Mortgage rates jump 20 basis points following Fed cut
Update: 2025-10-30
Description
Despite the Federal Reserve's rate cut, mortgage rates surprisingly increased, confusing home buyers and refinancers. The bond market had already anticipated the cut, but Powell's press conference sentiments led to a twenty basis point jump. While refinancing applications surged, new purchase applications remained stagnant. Mortgage rates continue to fluctuate based on Fed decisions and market reactions, making it crucial for home buyers and refinancers to stay informed about quick changes.
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