KEY POINTS

The weekly average rate for a 30-year fixed-rate mortgage was down Thursday.

But a daily mortgage rate tracker shows rates going up.

Analysts say the market is reacting to concern more Fed rate cuts may not be coming.

The weekly average rate for a 30-year fixed-rate mortgage was down again Thursday, but a daily tracker registered a rise in rates a day after the Federal Reserve’s first interest rate cut this year.

Mortgage rates were at 6.37% for a 30-year fixed rate loan by midday Thursday, according to Mortgage News Daily, up 0.15 percentage points from Wednesday’s daily index of 6.22%, posted after the Fed lowered its benchmark interest rate by a quarter point.

On Tuesday, Mortgage News Daily listed the lowest mortgage rate in nearly three years, 6.13%.

“It’s da

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