November Mortgage Outlook: Rates on the Rise

Mortgage rates are likely to rise in November, as a December cut from the Federal Reserve has started to seem uncertain.

Mortgage interest rates fell ahead of Fed cuts in September and October, because mortgage lenders worked market predictions into their base rates instead of waiting for confirmation. Even though markets are leaning toward a third consecutive cut at the Federal Reserve's Dec. 9-10 meeting, there's enough doubt that staying in wait-and-see mode feels more appropriate.

Anyone hoping we'd see mortgage rates move decisively below 6% will probably be disappointed. But relatively recent home buyers whose mortgages have rates in or near the 7% range will likely still be in a good position to refinance to a lower rate.

Next Fed cut far from guaranteed

Federal Reserve Cha