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☆ Mortgage rates plunge to lowest level in more than a year
▼ + stars: | 2024-08-08 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —US mortgage rates plummeted this week after weaker-than-expected employment data raised the odds of the Federal Reserve cutting interest rates next month. The standard 30-year fixed-rate mortgage averaged 6.47% this week, mortgage financing giant Freddie Mac said Thursday. Mortgage rates have steadily fallen over the past several weeks since reaching a 2024 peak of 7.22% in early May. Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Fed’s decision on interest rates. Lower mortgage rates and a bigger housing stock will eventually entice more buyers to eventually enter the market.

Persons: Freddie Mac, That’s, ”, Sam Khater, Freddie Mac’s, “ Homebuyers, ” Lawrence Yun, Lisa Sturtevant, “ Organizations: Washington CNN, Federal Reserve, Las, P Global, Harvard Joint Center for Housing Studies, CNN, Treasury, National Association of Realtors, Fed, NAR, “, Bright MLS Locations: New York, San Diego, Las Vegas, Tampa, Denver, Minneapolis, United States

Expensive Big Mac meals and fears of surge pricing at grocery stores have put food chains and consumer product companies in politicians' crosshairs. Walmart , McDonald's and Kroger are just a few of the companies that have found themselves in the debate over high inflation in the 2024 election. Democrats — particularly those like Casey who are trying to win races in competitive swing states — are trying to capitalize on frustration against companies over inflation. (The source of the data is unclear, and McDonald's has denied that its average prices have risen that much.) The criticism could also add to the pressure companies face to show they can lower prices or offer value.

Persons: Elizabeth Warren, Bob Casey, Kroger, Rodney McMullen, —, Casey, Joe Biden, McDonald's, Kamala Harris, Donald Trump, Harris, Trump, Biden, Cait Lamberton, That's Organizations: Walmart, McDonald's, Kroger, Albertsons, House Republican, Taco Bell, Democratic, Republican, U.S . Bureau of Labor Statistics, University of Pennsylvania's Wharton Locations: Sens, McDonald's

Mortgage rates have been trending down in recent days in response to weaker-than-expected labor market data and concerns of a possible economic downturn. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.73% last week, according to Freddie Mac. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 5.99%, an eight-basis-point decrease from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: homebuyers, you'll, Freddie Mac, it's Organizations: Zillow, Federal Reserve Locations: Chevron

☆ Apple wants to rewire search with AI — and that may help cut the Google cord
▼ + stars: | 2024-08-06 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

In reality, however, Apple may not have to worry too much if it does have to reduce its reliance on Google for search on its devices. In other words, Apple hopes that AI can intelligently answer queries and support user needs by understanding what actually matters to users. Related storiesPart of Apple Intelligence also involves a revamped Siri, Apple's chatbot that users can supercharge by offering permission to connect to OpenAI's industry-leading technology, ChatGPT. It's unlikely to find a deal as lucrative as the one it got with Google on search anytime soon, either. AdvertisementStill, Apple's bet on AI gives it a chance to present consumers with an alternative way to search the internet.

Persons: —, Hugh Langley, Tim Cook, Siri, Apple's, ChatGPT, it's, Monday's, OpenAI Organizations: Service, Google, Business, Apple, Apple Intelligence, company's, Conference Locations: Washington, Silicon

As the Fed lowers rates this year, mortgage rates are expected to go down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 5.99% this week, according to Freddie Mac data, which is an eight-basis-point decrease from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which may happen this year, mortgage rates should fall even further.

Persons: —, Freddie Mac Organizations: Federal, of Labor Statistics, Zillow, Federal Reserve, Fed Locations: Chevron

☆ The stock market is in no man's land. Here's what investors should expect next
▼ + stars: | 2024-08-04 | by ( Jim Cramer | ) www.cnbc.com time to read: +16 min

Anything above 4% indicates the market is overbought, anything below a minus 5% means the market is oversold.) I am just prematurely predicting other investors fleeing the stock because they think Warren knows more than them. Many investors thought that Amazon was the best set up of the Mag Seven going into earnings. We are right smack in a most perilous moment because the Fed doesn't want to move too fast but the stock market does and the Fed does not care about that. I don't think a presidential election is all that conducive to the market.

Persons: Warren Buffett's Berkshire Hathaway, Apple, Warren, That's, Buffett, Tim Cook, Cook, Carl Icahn, I'd, Donald Trump, don't, Jerome Powell, Meta, It's, Pat Gelsinger, Andy Grove, Gelsinger, Craig Barrett, that's, Pat, Let's, Mark Zuckerberg, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Dow, of America, Apple, Microsoft, Bank of America, Amazon Web Services, Investors, Comcast, Walgreens, CVS, Federal, whimpers, Amazon, Nvidia, Meta, Intel, Lenovo, Dell, HP, CNBC, Jim Cramer's Charitable, Traders, New York Stock Exchange Locations: Friday's, China, —, Wells, U.S, humorless, Taiwan, Brookfield, Arizona, NBCUniversal

As the Fed lowers rates, mortgage rates are expected to go down. "Mortgage rates declined to their lowest level since early February," Sam Khater, Freddie Mac's chief economist, said in a press release. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Barely Tick Down (-0.05%)The average 15-year mortgage rate is 5.55%, five basis points lower than last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: Freddie Mac, Jerome Powell, Sam Khater, Freddie Mac's, you'll, It's, refinance, they've Organizations: Reserve, Zillow, FHA Locations: Chevron

☆ McDonald's new big burger is called the Big Arch. Branding experts say the name makes it sound superior to its rivals.
▼ + stars: | 2024-08-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

The new burger, the Big Arch, is currently being piloted in Canada and Portugal. By using a brand name rather than a descriptor — like calling it the Big Burger — companies can "signal superiority," Kerrigan said. "And so you elevate what is a big burger to a branded shiny thing." AdvertisementThe arches imagery is now returning to menus again, with the launch of the Big Arch and its accompanying Big Arch Sauce. "You show that you are in someone's club or part of their tribe by using the same kind of brand names," she said.

Persons: —, McDonald's, Finola Kerrigan, — you've, Kerrigan, David Hughes, didn't, Hughes, Birdie, Ronald McDonald Organizations: Service, Business, Birmingham Business School, Mac, Triple, Mayo, Burger, Imperial College London Locations: Canada, Portugal, California, Texas

☆ Elon Musk Blasts Venezuela’s Maduro in an Escalating War of Words
▼ + stars: | 2024-08-01 | by ( Ryan Mac | Simon Romero | ) www.nytimes.com time to read: +1 min

Over the last four days, Elon Musk has spoken out more than 50 times about President Nicolás Maduro of Venezuela — and the comments have been far from flattering. “Shame on Dictator Maduro,” Mr. Musk wrote on X on Sunday, as results came in from Venezuela’s presidential election, which has been criticized as deeply flawed. Mr. Musk, the 53-year-old chief executive of Tesla and SpaceX, has often criticized heads of state, including President Biden, on X. But the attacks against Mr. Maduro, who is one of the prominent symbols of the left in Latin America, stood out for their sudden volume and aggression. They were part of a pattern by Mr. Musk of denouncing leftist ideals and socialism.

Persons: Elon Musk, Nicolás Maduro, Venezuela —, Maduro, Mr, Musk, Tesla, Biden, Donald J, Trump Organizations: SpaceX, U.S, Democratic Party Locations: Venezuela, Venezuela’s, ”, Latin America, United States

Mortgage rates are often indirectly impacted by changes to the federal funds rate, and as the Fed starts lowering its benchmark rate, mortgage rates are expected to go down as well. This means that as long as inflation continues to ease, mortgage rates should drop further this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates fell to 6.07% last week, according to Freddie Mac data. Mortgage rates increased dramatically over the last two years, but they're expected to go down at some point this year.

Persons: Jerome Powell, Powell, you'll, Freddie Mac, it's Organizations: Zillow, Federal Reserve Locations: Chevron

☆ Homebuyers are flocking to a type of loan that offers a lower mortgage rate. But they often require bigger down payments, and lenders don't like to give them.
▼ + stars: | 2024-08-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Homebuyers seeking lower mortgage rates are snapping up a rare type of loan. AdvertisementA type of mortgage that can offer ultra-low rates is becoming more popular among homebuyers — but they're rare and difficult to come across, real estate experts say. Buyers have been increasingly turning to assumable mortgages, or home-lending schemes where a buyer takes over a seller's mortgage, at the rate it was originally financed. Borrowing costs on the 30-year-fixed mortgage, the most popular type of mortgage in the US, ticked higher to 6.7% last week, according to Freddie Mac data. Meanwhile, 85% of existing homeowners have a mortgage rate under 6%, per an analysis from Realtor.com.

Persons: —, Freddie Mac Organizations: Service, Business

☆ Apple set to report fiscal third-quarter earnings after the bell
▼ + stars: | 2024-08-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

Apple CEO Tim Cook attends the annual developer conference event at the company's headquarters in Cupertino, California, U.S., June 10, 2024. Apple's third quarter, which ends in June, is traditionally the company's slowest quarter of the year by sales. This year, the "main event" won't be Apple's earnings, wrote Barclays analyst Tim Long, it's what the company says about the September quarter, which is nearly one-third over. Apple revealed Apple Intelligence in June, and the first preview version of some features was released earlier this week. JPMorgan analyst Samik Chatterjee expects Apple to reassure investors that the coming iPhone replacement cycle will include better-than-expected revenue, thanks to AI.

Persons: Tim Cook, Tim Long, Apple doesn't, Long, Raymond James, Srini Pajjuri, Samik Chatterjee, Chatterjee, Apple, Wamsi Mohan, Atif Malik Organizations: Apple, Barclays, Apple Intelligence, Nvidia, JPMorgan, Services, Bank of America Securities, Huawei, IDC, Citi Locations: Cupertino , California, U.S, China

☆ 'A growth turnaround beginning': Here's what Wall Street expects from Apple's 3rd-quarter earnings
▼ + stars: | 2024-07-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Artificial intelligence incorporated into Apple products could add another $30 to $40 each share of Apple stock, Wedbush estimated. "We strongly believe June will be the last negative growth quarter for China with a growth turnaround beginning in the September quarter. AdvertisementMorgan Stanley: Big upgrade cycle comingMorgan Stanley's research team reiterated Apple as its "top pick", thanks to a large number of Apple users set to upgrade their devices. "Apple Intelligence is a clear catalyst for a multi-year product upgrade cycle," analysts added in a note. But investors are still waiting for Apple Intelligence to roll out before sentiment improves.

Persons: —, Wedbush, Needham, Morgan Stanley, Morgan Stanley's, Oppenheimer, Apple's Organizations: Service, Apple, Apple Intelligence, Business, OpenAI, Bank of America, Apple Care, Apple Music, Analysts, Barclays, Stock Locations: China, Asia, Needham, Apple's

☆ Stocks making the biggest moves premarket: Pinterest, Match Group, Advanced Micro Devices and more
▼ + stars: | 2024-07-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +6 min

Advanced Micro Devices — Shares popped nearly 9% after the chipmaker's earnings and revenue beat analyst estimates postmarket Tuesday. AMD reported adjusted earnings of 69 cents per share versus 68 cents expected from analysts polled by LSEG. Live Nation Entertainment — The entertainment stock was little changed after posting second-quarter revenue that matched expectations. But revenue of $6.48 billion was below the $6.55 billion analysts had expected, according to FactSet. Marriott International — The hotel chain slipped 4% after posting second-quarter revenue of $6.44 billion, below the $6.47 billion expected by analysts polled by FactSet.

Persons: DuPont, LSEG, Pinterest, FactSet, Dan Dolev, Kelly Ortberg, Dave Calhoun, AutoNation, StreetAccount, Kraft Heinz —, Greg Heckman, —, Brian Evans, Michelle Fox, Fred Imbert, Spencer Kimball, Tanaya Macheel, Jesse Pound, Samantha Subin Organizations: DuPont, Intel, Bloomberg, Microsoft, AMD, LSEG, Revenue, Nvidia, ASML, Arista Networks, Arista, Starbucks, Mizuho, Boeing, Collins Aerospace, Entertainment, Humana, Marriott, FactSet, Mobile, Nuclear Regulatory Commission, Nuclear, Constellation Energy, Constellation, Bunge Locations: Tuesday's, FactSet, Texas, U.S

It’s been a year since interest rates reached a two-decade high, but they may soon begin to reverse course. The Federal Reserve is expected to hold its benchmark interest rate steady on Wednesday, while signaling that a cut is possible when policy-setting officials meet again in September. If interest rates are elevated for too long, they risk weakening the employment picture. The central bank uses interest rates to influence the broader economy. Home-equity lines of credit and adjustable-rate mortgages — which each carry variable interest rates — generally rise within two billing cycles after a change in the Fed’s rates.

Persons: It’s, ” Jonathan Smoke, that’s, Freddie Mac, ”, Sam Khater, —, “ Banks, Ken Tumin Organizations: Federal, “ Manufacturers, Cox Automotive, Treasury, Savings Vehicles Locations: Edmunds

☆ Why Americans are snubbing McDonald’s and Starbucks
▼ + stars: | 2024-07-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —On the surface, it looks like Americans are laying off the Big Macs, booze and even — gasp! On Monday, McDonald’s reported sales fell 0.7% in the US from the same period in 2023. The once reliably cheap McDonald’s pushed its prices up, while sit-down restaurants leaned into value and convenience. Applebee’s, for one, made a direct pitch to the hordes of ticked-off McDonald’s customers who felt the chain had abused its pricing power. Now, McDonald’s is trying to win back poorer customers while appealing to more affluent customers who want something new.

Persons: CNN Business ’, McDonald’s, Johnny Walker, It’s, it’s, they’re, ”, RJ Hottovy, Jonathan Maze, I’m, —, Chili’s, “, Taylor Swift Organizations: CNN Business, New York CNN, Starbucks, Diageo, Restaurant Business, Dine Brands, CNN Locations: New York, United States, North America, Texas, Paris

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.78% last week, according to Freddie Mac. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.07%, a two-basis-point increase from the previous week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: they've, you'll, Freddie Mac, it's Organizations: Federal Reserve, National Association of Realtors, Zillow Locations: Chevron

Mortgage rates are down from where they've been in recent months, with 30-year mortgage rates hovering just below 6.5%, according to Zillow data. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.78% this week, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.07% this week, according to Freddie Mac data, which is a two-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.

Persons: they've, Freddie Mac Organizations: Federal Reserve, Mortgage Bankers Association, Zillow, Fed Locations: Chevron

☆ Housing affordability is 'moving in the right direction,' economist says. Here's what to know
▼ + stars: | 2024-07-30 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

A slight decrease in mortgage rates in the month of June definitely helped buyers, said Yun. Housing affordability is improving ever so modestly, but it is moving in the right direction. While there's still an affordability challenge broadly, conditions are "moving towards a more neutral market," Orphe Divounguy, a senior economist at Zillow. Total housing inventory registered at the end of June was 1.32 million units, up 3.1% from May and 23.4% from a year ago, according to NAR. Competition is easing fastest in the South, where all major southern markets except Dallas and Raleigh are either neutral or buyer-friendly, according to the June 2024 Zillow Housing Market Report.

Persons: Yun, Freddie Mac, Lawrence Yun, Chen Zhao, there's, Selma Hepp Organizations: Sdi, CNBC, Investors, National Association of Realtors, Zillow Locations: Redfin, Dallas, Raleigh

☆ My partner and I went to Hard Rock Cafe for the first time. The decor is cool, but our $80 meal wasn't worth it.
▼ + stars: | 2024-07-30 | by ( Amena Ahmed | ) www.businessinsider.com time to read: +1 min

My partner and I dined at Hard Rock Cafe for the first time in Philadelphia. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMy partner and I are always looking for new chain restaurants to try, and Hard Rock Cafe has been at the top of our list for a while. Luckily, Hard Rock International is a multibillion-dollar company with over 50 restaurant locations in the US alone, so it's not hard to find one. This story is available exclusively to Business Insider subscribers.

Persons: —, Taylor Swift Organizations: Service, Business Locations: Philadelphia

☆ Why Silicon Valley Is Going to War Against the Media, Journalists
▼ + stars: | 2024-07-30 | by ( ) www.businessinsider.com time to read: +21 min

Just 20 years ago journalists covered the tech industry "like it didn't matter, like it was this hobbyist, interesting, plucky thing." The pro-tech media gives tech's main characters the chance to write their way back to the original storyline. Trae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Related storiesTrae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Of the members of the news media I talked to about pro-tech media, some were backhandedly laudatory.

Persons: Mike Solana, Solana, Peter Thiel, —, David Sacks, Jason Calacanis, Chamath Palihapitiya, David Friedberg, Elon Musk, Sam Altman, Tucker Carlson, Donald Trump, There's, Coogan, John Coogan, Andreessen Horowitz, Marc Andreessen, they're, Balaji Srinivasan, Mark Zuckerberg, Donald Trump's, Tyler Le, Sam Bankman, Warren Buffett, Trae Stephens, Andreessen, Palmer Luckey, It's, Dick Lucas, Lucas, Joe Rogan, Kamala, Stephens, Packy McCormick, Taylor Lorenz, Ryan Mac, Kevin Roose, Jesse Singal —, Casey Newton, Casey isn't, Casey, Newton, Erik Torenberg, Anthony Fauci, Ellen Pao, Katherine Maher, George Soros, Joe Biden, Chesa Boudin, Boudin, Gavin Newsom, Palihapitiya, Sacks, Trump, JD Vance, Brian Merchant, Ben Smith, Eric Newcomer, he's, Lulu Cheng Meservey, Balaji Srinivasan's, Zoë Bernard Organizations: Fund, Tech, Founders Fund, Apple, Elon, Elite, Sequoia Capital, Pirate, Penguin Group, Big Tech, Card Industry, Washington Post, TechCrunch, Media, NPR, Google, Disney, Twitter, Republican National Convention, Bloomberg, monetization, San, Business Locations: San Francisco, Substack, Silicon Valley, New York, Silicon, Solana, Miami, Francisco, California, Los Angeles

How the election is dividing techThe tech world has long been divided by rivalries: Macs versus PCs, open source versus closed source. It’s a reminder, as DealBook has noted, that Silicon Valley’s libertarian wing is feeling more emboldened to flex its money and influence to buck what has become a traditionally Democratic consensus. Who’s who: Some of the most vocal Democratic donors among the tech elite are Hoffman; Vinod Khosla, the venture capitalist; Aaron Levie, the C.E.O. On the Republican side are a camp of libertarians that includes Musk and the investors Peter Thiel, David Sacks, Marc Andreessen and Ben Horowitz. Then there are those staying neutral, including Mark Zuckerberg of Meta, who are ostensibly trying to avoid antagonizing whoever wins in November.

Persons: Elon Musk, Reid Hoffman, Ryan Mac, Erin Griffith, Mike Isaac, DealBook, Who’s, Hoffman, Vinod Khosla, Aaron Levie, Roger McNamee, Peter Thiel, David Sacks, Marc Andreessen, Ben Horowitz, Mark Zuckerberg, Meta Organizations: Republican

☆ Americans keep turning their backs on McDonald’s
▼ + stars: | 2024-07-29 | by ( David Goldman | ) edition.cnn.com time to read: +5 min

CNN —Inflation has caught up with McDonald’s, and budget-conscious Americans are looking elsewhere for their fast-food fix. The tough environment for McDonald’s wasn’t limited to the United States: Sales at stores open for at least a year fell 1% globally. The plan focuses on value meal plans like the popular $5 meal introduced earlier this summer. He pointed to McDonald’s new emphasis on chicken, which is now on par with beef sales at restaurants. Whether or not that viral post was the final straw for McDonald’s customers, Americans have been punishing the company ever since.

Persons: McDonald’s, McDonald’s isn’t, Grimace’s, ”, Chris Kempczinski, hadn’t, Kempczinski, “, ” Kempczinski, — Organizations: CNN, Inflation, McDonald’s Locations: Burger, United States, Connecticut

☆ Rapid renewable energy growth leads FBI to warn hackers will hit new, vulnerable power supply
▼ + stars: | 2024-07-29 | by ( Michelle Castillo | ) www.cnbc.com time to read: +6 min

Government incentives, including the Inflation Reduction Act, have encouraged individuals and private ownership groups to invest in clean energy systems. The renewable energy industry's rapid expansion in the U.S. in some cases is occurring without traditional utility protocols and regulations. The boom in renewable energy has also led manufacturers of products and services to ramp up their offerings. Inverters connected to the internet, in particular, could be controlled by hackers to reduce output or overheat home energy systems. Other major players in the U.S. utilities and renewable energy sector, including Next Era Energy, Constellation, Enphase Energy, First Solar and Sunrun, did not respond to requests for comment.

Persons: Jim Hempstead, SEIA, Bheshaj Krishnappa, Freddie Mac, Moody's, Jim Guinn Organizations: FBI, U.S . Energy Information Administration, Metropolitan Washington Council, Governments, Department of Defense, U.S ., Solar Energy Industries Association, Department of Energy Solar Energy Technologies Office, Constellation Energy, Corporation, cybersecurity, Cybersecurity, GE Vernova, Constellation, Enphase Energy Locations: U.S, California , Utah, Wyoming, United States, China, Russia, Iran, cyberattacks

☆ The first Fed interest rate cut in years is on the horizon. Here's what homeowners, buyers need to know
▼ + stars: | 2024-07-29 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

Valentinrussanov | E+ | Getty ImagesThe Federal Reserve is poised to make the first interest rate cut in years this fall, which can influence mortgage rates to go down. To that point, people in the market to buy a home have been eagerly waiting for the Fed to cut rates. The Fed is meeting this week, but experts say it seems more likely that the first rate cut will come in September. That would be the first rate cut since 2020 in the onset of the Covid-19 pandemic. While mortgage rates are fixed and mostly tied to Treasury yields and the economy, they are partly influenced by the Fed's policy.

Persons: Chen Zhao, Freddie Mac, Refinance, it's, Zhao, Selma Hepp, Hepp, Jacob Channel, there's Organizations: Fed, Treasury, Mortgage, Association, Finance Locations: Redfin

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