Why Are Mortgage Rates Still High If the Fed Cut Rates?
If the Fed slashes rates, why is your mortgage quote jaw-droppingly high? You’re not crazy—and you’re not alone. Despite the Fed lowering short-term interest rates by a whole percentage point since September 2024, mortgage rates haven’t dropped. In fact, they’ve risen. Just take a look at this: The Fed Doesn’t Control Your Mortgage Rate I…