The Federal Reserve is poised to make its first interest rate cut in years on Wednesday.
While mortgage rates are partly influenced by the Fed's policy, they are also tied to Treasury yields and the economy.
Home loan rates have already started to come down in recent weeks, slightly induced in part by favorable economic data and indications the Fed could cut rates.
As of Thursday, Sept. 12, the average 30-year fixed rate mortgage in the U.S. was 6.20%, according to Freddie Mac data via the Fed.
"It's almost impossible to figure out what mortgage rates are going to do from week to week or month to month," Ostrowski said.
Persons:
Chen Zhao, Freddie Mac, Jeff Ostrowski, Ostrowski
Organizations:
Federal, CNBC, Treasury, Finance
Locations:
Redfin, U.S