Mortgage Rates Show Mixed Trends with Recent Fed Rate Cuts

While 30-year mortgage rates remain stable, other loan types experience slight fluctuations following Federal Reserve's interest rate adjustments.

The average rate for 30-year fixed mortgages is holding steady at 6.87%, just below last week's four-month high.
Refinance rates for 30-year loans slightly increased to 7.09%, maintaining a level above the 19-month low reached in September.
The Federal Reserve has reduced the federal funds rate twice recently, with the latest cut bringing it to a range of 4.5% to 4.75%.
Jumbo 30-year and 15-year mortgage rates saw minor decreases, reflecting a trend of slight rate dips in some loan types.
Experts suggest further rate cuts may occur in December if inflation continues to decrease, influencing future mortgage rate trends.