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Mortgage Rates Higher Again Ahead of Fed
Mortgage News Daily • • business
Key Points:
- Mortgage rates have risen for six consecutive days, reaching their highest levels since January 2025, with the average top-tier 30-year fixed rate now at 7.22% and the most quoted rate at 7.25%.
- The 0.33% increase over the past six days marks the sharpest rise in mortgage rates since October 2024.
- Recent volatility in mortgage rates is influenced by economic data, oil prices, and their potential impact on Federal Reserve policy ahead of the upcoming Fed announcement.
- Markets widely anticipate a Fed rate hike at the next meeting, but some experts remain uncertain, increasing the likelihood of volatile mortgage rate movements regardless of the Fed's decision.
- Mortgage rates and the Fed Funds Rate do not always move in tandem, as evidenced by recent weeks where expectations for the Fed Funds Rate diverged from trends in longer-term mortgage rates.
