If November’s fickle rates are a sign of what’s to come, mortgage rates will likely rise in December.

Analysts went into this month with a growing sense that the Federal Reserve would vote to lower the federal funds rate at its Dec. 9-10 meeting. However, any cuts to mortgage rates related to this month’s meeting will be relegated to the first week or so of December.

After the meeting, lenders will set mortgage rate expectations for the rest of the month based on market forecasts moving into 2026.

Sure, it’s possible that this meeting will reveal that all voting members of the Fed’s monetary policy committee are mostly on the same page moving forward. But it’s way more likely that divisions that have emerged in recent weeks will persist, and uncertainty around the Fed’s next move coul

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