NBC Montana
If interest rates go down, so should mortgage rates. That’s what many people expected after the Federal Reserve lowered rates by 50 basis points last month, but that hasn’t been the case.
The opposite has been happening with rates going up.
According to data from Mortgage Daily News, the average 30-year fixed mortgage rate has jumped about 47 basis points since the Fed rate cut in September to right around 6.62%.
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