Why Mortgage Rates Aren’t Falling

The Fed just cut rates again, so why are 30-year mortgages still stuck around 6%?

The answer is exactly what smart buyers are using to get ahead right now. Here's what just

happened. The Fed dropped its benchmark rate to about 3.5% to 3.75%,

the lowest since 2022. But mortgage rates barely moved, and they're still

hovering just above 6%. That's because the Fed controls short-term bank rates while

mortgage rates are driven by the bond market and inflation expectations, not just Powell's

announcement. So what's the play? Recent cuts plus one-year low mortgage rates and stabilizing

prices are already pulling sidelined buyers back into the market with 2026 forecasts to