Fed Cuts Rates: Why Your Mortgage Payments Might Not Plummet (Yet)
Fed Cuts Rates: Why Your Mortgage Payments Might Not Plummet (Yet) The Federal Reserve recently delivered its first quarter-point rate cut since last year, signaling potentially two more reductions before the end of 2025 amidst growing concerns for the U.S. job market. While many homeowners and prospective buyers might hope for a sustained drop in mortgage rates, experts caution against banking on it. Despite the Fed’s move, mortgage rates don’t always mirror the central bank’s benchmark rate directly. They are…