Understanding the Recent Fed Rate Cut and Mortgage Interest Rates

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The fed cut the fed funds rate but mortgage rates went up??
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I've been preaching to Mortgage people that they need to be putting these types of videos out and none of them will do it on YouTube. Great job.

FloodInsuranceGuru
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What about the unexpected size of the cut? If current mortgage rates have baked in the expectation of a total 0.5 cut for 2024, but it's now looking like it'll be a total 0.75 by the end of the year, shouldn't that logically pull rates down a little further in the immediate/short term? .. Deciding on whether to lock in my banks proposed rate this or next week. Any advice would be greatly appreciated!

conr
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That’s not correct, I am in the process of purchasing and I requested for a new rate and let me tell you…. It went down by 1%.
Note: my closing date was expected to be set for next week.

Mostafizur_rahman