Have you ever shaken a wrapped present to guess what’s inside? Well, that's what happened to mortgage rates this week. They bounced around as markets wondered if the Federal Reserve will give us a rate cut at its next meeting.

The average rate on the 30-year fixed-rate mortgage fell eight basis points to 6% APR in the week ending Dec. 4, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.

Mortgage markets don’t like surprises. After some big swings earlier in the week, mortgage rates eased as data trickled in showing some labor market softness. As of Thursday morning, most forecasters expect the Fed will aim to boost employment by cutting the federal funds rate by 25 basis points at its Dec. 9-10 meeting.

Will they or won’t th

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