If you're planning to take out a $750,000 mortgage, you should know what the monthly payments are now that the Fed has cut rates. Sakchai Vongsasiripat/Getty Images

The Federal Reserve delivered its first interest rate cut since December 2024 this week, lowering its benchmark rate by a quarter-point to a range of 4.00% to 4.25%. The move represents a significant policy shift for the central bank, which had maintained a cautious approach throughout most of 2025, leaving borrowers to face elevated rates amid a tough economic landscape. But while analysts and experts widely anticipated that the Fed would cut rates this month, the Fed also noted during the rate cut announcement that more action may come by year's end .

The context behind this move makes this decision particular

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