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Today — 8 November 2024Main stream

If the Fed Is Cutting Rates, Why Are Mortgage Rates Rising?

✇NYT | Top Stories
By: Danielle Kaye
8 November 2024 at 01:05
The latest rise, to 6.79% for a 30-year mortgage, reflects bond market concern about President-elect Trump’s agenda. It extends an uptick in mortgage rates despite expected Federal Reserve rate cuts.

© Martina Tuaty for The New York Times

The average rate on a 30-year mortgage, the most popular home loan in the United States, rose to 6.79 percent this week, Freddie Mac reported on Thursday.
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