Borrowing Costs are Falling—Why Aren’t Mortgage Rates?

CNBC, Sept. 26 2025-Mike Winters
The Federal Reserve recently lowered its benchmark rate for the first time this year, and mortgage costs briefly dipped in anticipation. But the reprieve didn’t last–30-year fixed rates are climbing again, back to about 6.37%, as of Thursday. They’ve been stuck above 6% for the past three years.

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