""because markets have already priced it in.""
""Since this rate cut was no surprise, the markets have taken it in stride,""
""The future of bond yields and mortgage rates will be determined as new data on jobs and inflation get released.""
""Mortgage rates are unlikely to fall or rise by much,""
The Federal Reserve cut its policy rate by 0.25 percentage points to a 3.50%–3.75% range for a third consecutive meeting to help a softening labor market. Short-term federal funds rate changes affect credit cards, personal loans, and HELOCs, while 30-year mortgage rates more closely follow long-term yields such as the 10-year Treasury and mortgage-backed securities. Markets had largely priced in the December cut, so a meaningful immediate decline in mortgage rates is unlikely. Current mortgage rates sit near 6.3%, and future movement will depend on incoming jobs and inflation data.
Read at Fortune
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