Mortgage rates jump 20 basis points following Fed cut
CNBCยท2025-10-30 17:57
While the Federal Reserve cut its benchmark interest rate this week, mortgage rates responded by doing just the opposite.The average rate on the 30-year fixed mortgage has jumped 20 basis points since Chairman Jerome Powell announced the cut on Wednesday and held a news conference, according to Mortgage News Daily.This happened the last time the Fed lowered its rate as well, and the reason is pretty simple: the bond market had already priced in a cut, but it didn't like the commentary from Powell.On Tuesday ...