Mortgage rates going up despite dropping interest rates
2 Video Views·Nov 14, 2024
The Federal Reserve keeps dropping key interest rates, but mortgage rates are actually going up, leaving many prospective homeowners facing a harsh reality.
Time now to connect the dots when we make the news makes sense. The federal reserves keep
dropping interest rates, which is great news, but mortgage rates, they're actually going up.
Prospective homeowners are facing a harsh reality. Mortgage rates are going up and probably won't
come down for a while. Let's connect the dots. The average 30-year mortgage rate is sitting near
6.8% this week. In fact, the average rate has been above 6% for the last two years.
What's keeping rates so high? Experts blame a combination of better-than-expected growth
and uncertainty over the economic impact of another Trump administration.
And while the federal reserve has started to ease interest rates, those cuts typically only
impact long-term lending, like car loans or credit cards. Mortgages are tied more to government bonds.
Experts warn that if the economy stays strong, mortgage rates could push even higher in the
And that is connecting the dots.