"Samir Dedhia, CEO of One Real Mortgage, noted in commentary last week that rates are near their lowest levels since October 2024, not long after the Federal Reserve began to implement a series of cuts to benchmark rates that totaled 100 bps. Rates have now dropped nearly half a percent from their January highs, giving homebuyers and homeowners more breathing room to explore options, Dedhia said."
"Just last week, Fed Chair Jerome Powell acknowledged that the data is moving in the right direction and that the central bank is carefully considering' a shift in policy. That helped cool bond yields and sent mortgage rates trending downward again, a welcome signal for buyers waiting on the sidelines. Interest rate traders remain bullish on the prospects of a 25-bps rate cut later this month."
Mortgage rates sit near their lowest levels since October 2024 following a series of Federal Reserve cuts totaling 100 basis points. Rates have dropped nearly half a percent from January highs, loosening conditions for homebuyers and homeowners. Growing confidence in further Fed cuts has driven momentum, and cooling bond yields have pushed mortgage rates downward. Traders show strong odds of a 25-bps cut, with the CME FedWatch tool indicating nearly 92% probability of a policy rate range of 4%–4.25%. The upcoming jobs report and political tensions involving the Fed could influence future rate moves and housing inventory trends.
Read at www.housingwire.com
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