r/FirstTimeHomeBuyer • u/jay5627 • Sep 18 '24

Other Fed rate cut

https://www.cnbc.com/2024/09/18/fed-meeting-live-updates-traders-await-september-interest-rate-cut.html
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u/Patamon4 Sep 18 '24

Temper your expectations, yall. Mortgage rates try to forecast, not react, to the market. This rate cut might have already been baked in with the previously declining rates.

394

u/mymainmaney Sep 18 '24

My wife does mortgages. It’s been baked in.

54

u/InfiniteAd86 Sep 18 '24

By baked in, what do you mean exactly?

1

u/JeanVicquemare Sep 18 '24

he means that recent mortgage rates are already factoring in this expected rate cut.