Even the Federal Reserve, which sets a short-term benchmark interest rate for lenders, only indirectly impacts the mortgage market. The Fed is expected to hold interest rates stea

After implementing three rate cuts in late 2024, the central bank has opted to keep its benchmark federal funds rate steady at 4.25% to 4.50%. The pause comes as inflation showed signs of stubborn persistence,

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Mortgage rates are up just a couple of basis points since last week, keeping them near their post-Christmas low. Rates on new 30-year fixed-rate loans averaged 6.98% on Friday, as compared to the 4-week low of 6.93%. 15-year loans saw their Friday-to-Friday average rise a more sizable 8 basis points, now up to 6.14%.

Learn how Fed meetings affect mortgage rates and what it means for borrowers. Discover trends, impacts, and expert predictions on mortgage rates.

Federal Reserve officials are almost certain to leave benchmark rates unchanged on Wednesday, which would end a run of three straight cuts.

Policy changes from the Fed: When the Fed adjusts the federal funds rate, it spills over into many aspects of the economy, including mortgage rates. The federal funds rate affects how much it costs banks to borrow money, which in turn affects what banks charge consumers to make a profit.

Here’s how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.

These are today's mortgage and refinance rates. Mortgage rates may only drop a little bit this year since the economy is still running strong.