Here’s why mortgage rates went up after the Fed cut. 📈🏡

Interest Rate and Mortgage Rate Dynamics - The Fed cut interest rates, but mortgage rates paradoxically increased by nine basis points on Wednesday and a further 15 basis points on Thursday, reaching 637% [1] - Markets anticipated the Fed's rate cut, but mortgage rates didn't drop as expected because markets didn't receive signals of further aggressive rate cuts [2] - Initial joblessness claims came in lower than expected, which is positive for the labor market but argues against future rate cuts [3] Market Outlook - The market faces two-sided risk, making policy decisions difficult [3] - Economists anticipate mortgage rates to remain relatively flat or slightly increase until new economic data emerges [3]