When the Fed cuts its benchmark rate, Treasury yields often drop, and lenders usually lower mortgage rates in response.

U.S. Federal Reserve Chair Jerome Powell on Friday pointed to a possible rate cut at the central bank's September meeting but stopped short of committing to it in remarks that walked a narrow line ac...

But Powell suggested the outlook was changing in a direction that could justify a resumption of rate cuts in a widely watched address at a conference in Wyoming on Friday.

Current mortgage rates are down today but higher than they were seven days ago. Rates are lower than they were in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. But rates are still relatively high as fears around stubborn inflation have kept the Federal Reserve from lowering its benchmark rate so far this year.