Fed Cut Backfires? Rates Up, Apps Soar

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📉 Mortgage Rates at Yearly Lows… Then Higher After the Fed Cut

Last week brought a big twist:

• Mortgage rates dipped to yearly lows early in the week.

• The Fed cut its policy rate by 0.25%… but the average 30-year fixed actually went up afterward. 📈

• Why? Mortgage rates track the bond market, not the Fed directly. Powell’s comments and stronger economic data pushed rates higher.

⚡ Here’s the catch: borrowers who moved fast jumped in while rates were low—driving the biggest surge in mortgage applications since 2021. That means competition is already heating up.

👉 If you wait, you’ll be shopping in a market where more buyers and refinancers are already active. Timing can make a big difference in your rate, your payment, and even the house you get.

 

💬 Don’t sit on the sidelines—opportunities move fast. Let’s talk today about locking in your options before the window gets tighter.

Source: Mortgage News Daily