AI-assisted summary

The Federal Reserve's benchmark rate does not directly impact mortgage rates, which are tied to long-term treasury bills.

Lower short-term rates could help the housing market by reducing costs for builders and potentially boosting the overall economy.

Mortgage rates, a key stat for those thinking of buying or selling a home in the Eugene area, have dipped following the Federal Reserve’s Sept. 17 interest rate cuts .

But mortgage rates aren't likely to fall much more before the next fed meeting.

The average 30-year fixed rate mortgage fell to 6.35%, according to Sept. 11 numbers from Freddie Mac. On Sept. 18, after the Fed's .25 percentage point cut lowered the benchmark rate to 4%, the 30-year mortgage average ticked down to 6.26%.

The Federal Reserve’s benchm

See Full Page