Long-term mortgage costs have risen since the Federal Reserve started cutting interest rates in September as the yield curve has steepened.

On Nov. 7, the Federal Reserve implemented a 0.25% reduction to the federal funds rate, its second cut in over four years. Prospective homebuyers are eager for a silver lining in the housing market. But experts don't anticipate dramatically lower rates before the end of the year.

Mortgage rates, in particular, surged last year to their highest level since 2000 but have since come down alongside inflation. But it's been a bumpy ride back to the bottom in recent weeks. What, then, does this latest Fed rate cut mean for mortgage interest rates? That's what we'll break down below.

Earlier on Thursday, mortgage rates rose again for the sixth consecutive week, hitting a four-month high of 6.79%, according to Freddie Mac. The Fed's latest rate cut, which was universally expected and thus fully priced in to bond markets, is unlikely to bring relief to mortgage rates in the near term.

Though the Fed was already set to cut rates at least once more before the end of 2024, the modest 0.25% rate cut targeting 4.5%–4.75% indicates that the central bank is proceeding with caution in light of a Donald Trump Administration.

Though the Federal Reserve has been cutting interest rates, mortgage rates have been increasing or holding steady. When will potential homeowners see mortgage relief.

The Federal Reserve is set to issue another rate cut this week. Here's what could then happen to mortgage rates.

The Fed cut rates for the second time this year. Learn how this impacts mortgage rates and what to expect in the coming months.

These are today's mortgage and refinance rates. Mortgage rates are down slightly today, but they're still higher than they've been in recent months.

The average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say. A combination of better-than-