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Why are mortgage rates increasing despite a rate cut from the Fed?

On HALO

1 week ago

Mortgage rates have climbed for the second straight week, despite the Federal Reserve delivering its first interest rate cut in nearly a year, underscoring that a range of factors influence borrowing costs.Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed mortgage rose to 6.34%, up from 6.3% last week. A year ago, the rate averaged 6.12%, according to its latest Primary Mortgage Market Survey.MORTGAGE RATES CLIMB FOR SECOND STRAIGHT WEEKWhen lenders set mortgage rates, they look to broader market forces. These include the 10-year Treasury yield as well as the p...

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1 week ago
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