Mortgage interest rates are expected to drop by the end of the year—here’s how much you could save on monthly payments
SKIP NAVIGATION Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email SPEND Mike Winters SHARE Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email urbazon | Getty With inflation decelerating, interest rate cuts are widely expected later this year. Traders are predicting a September cut with near 100% certainty , according to the CME FedWatch Tool, which uses market data to predict Federal Reserve interest rate decisions. That’s potentially good news for homebuyers, since interest rate cuts would likely make monthly mortgage payments a bit more affordable. While mortgage rates are most closely linked to 10-year Treasury bonds, they tend to move in tandem with the Federal Reserve’s benchmark interest rate. Consequently, a rate cut is likely to lower mortgage rates later this year. How interest rate cuts could lower monthly mortgage costs Most major housing organiz...