"I don't expect to see a huge reaction from mortgage rates to this news because the market had largely already priced these expectations in," says Realtor.com® Chief Economist Danielle Hale. "In short, the Fed's current stance mirrors where the market had already moved."
Forecasts released by Fed policymakers alongside the rate decision took a hawkish turn, projecting only two further quarter-point cuts through 2025, down from four in the projection issued in September.
The Realtor.com economic research team projects that mortgage rates will continue to average above 6% through 2025, dropping slowly to around 6.2% by the end of the year.
Some policymakers are concerned that the current pace of loosening is too fast. Taken together, those signals could work to drive mortgage rates higher in the coming days and weeks, though any uptick is unlikely to be dramatic.
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