Steady Mortgage Rates Despite Fed Rate Cut Anticipations

Current Mortgage Rate Trends

Mortgage rates have remained largely unchanged over the past week, with the average rate for a 30-year fixed-rate mortgage holding steady at 6.35%, according to Freddie Mac. This stability persists amidst widespread expectations that the Federal Reserve might cut interest rates later this month to stimulate economic growth. The 15-year fixed-rate mortgage saw a slight decrease to 5.47% from 5.51% a week earlier, showing minor fluctuations in the short-term lending landscape.