Today's Mortgage Rates | Rates Still Haven't Moved Much [Business Insider]
Rocket Companies, Inc. Class A (RKT)
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Source: Business Insider
If the latest data continues to come in strong, the Fed may not cut rates next month. This could push mortgage rates up a bit. Mortgage rates have remained remarkably steady this month, with 30-year rates hovering in the mid-to-high 6% range. In the last few weeks, the likelihood that the Federal Reserve will lower the federal funds rate in December has shrunk, though traders are still pricing in around a 55% chance of a 25-basis-point cut, according to the CME FedWatch Tool . A month ago, there was a 77% chance of a cut. Until we get a better idea of what the Fed is likely to do at its next meeting, mortgage rates may remain near their current levels. Recent stronger-than-expected economic data gives Fed officials more room to take their time lowering rates. Unless new data comes in showing that the economy is slowing, central bankers may opt to keep rates steady in December. This could cause mortgage rates to tick up slightly, since a quarter-point cut has already been pric
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- Today's Mortgage Rates | Rates May Remain Above 6% Next Year [Business Insider]Business Insider
- Today's Mortgage Rates | Rates Up as Investors Remain Uncertain About December Fed Cut [Business Insider]Business Insider
- Today's Mortgage Rates | Why Are Rates So Stubbornly High? [Business Insider]Business Insider
- Today's Mortgage Rates | What if the Fed Doesn't Cut Rates in December? [Business Insider]Business Insider
- Today's Mortgage Rates | Why Rates Have Been So High This Month [Business Insider]Business Insider
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