The Fed cut rates by 25 basis points, aiming to support a weak job market despite lingering inflation concerns.
Mortgage rates had already fallen before the decision, hitting year-lows, but future direction remains data-driven and uncertain.
For buyers, affordability issues and weak labor markets mean housing demand may stay muted until deeper cuts in 2026.
Refinancers stand to benefit now, with rates dipping below 6.5%, creating opportunities for savings despite closing costs and term extensions.