Here's when mortgage interest rates could fall below 6%
Projections on how much the Federal Reserve will cut interest rates — and when they will do it — vary from economist to economist. What most seem to agree on, however, is that a cut is imminent for the Fed's next meeting, set to conclude on September 18. The CME FedWatch tool has it pegged at 100% certainty.
While the Fed doesn't directly dictate what lenders offer borrowers, it does influence them. So if a 25 basis points cut is issued then, mortgage rates could, in theory, drop to 6.32% from today's 6.57%.