After the Fed rate cut: Mortgage lenders with the lowest rates this week, Nov. 3, 2025

Core Insights - The Federal Reserve's recent rate cut may influence mortgage rates, but it does not guarantee immediate reductions in mortgage rates for borrowers [2][3] - Mortgage lenders are adjusting their rates in response to the Fed's actions, with some lenders like Rocket Mortgage lowering their rates following the Fed's cut [3] - The best mortgage rates this week are offered by PenFed Credit Union, Chase Home Lending, and U.S. Bank, as per a survey conducted by Yahoo Finance [1][4] Mortgage Rate Shopping - Shopping around is essential for borrowers to secure the lowest mortgage rates, as highlighted by research from Realtor.com [7] - The annual percentage rate (APR) is the most critical figure for borrowers, as it encompasses both the interest rate and lender fees, providing a clearer picture of borrowing costs [8] - Borrowers should request quotes from multiple lenders without discount points to facilitate accurate comparisons of rates and fees [12] Discount Points - Discount points are upfront fees that borrowers can pay to lower their interest rates, with one point typically costing 1% of the loan amount and reducing the rate by about 0.25% [10] - Some lenders, like Truist, offer negative points or lender credits, which can help cover closing costs instead of increasing the loan cost [11]