Wait…Mortgage Rates Went Up After the Fed Rate Cut?

The Fed just cut rates—but mortgage rates actually went up. In this episode, Stephen and Derick break down why that happened, what the Fed really controls, and how the bond market drives mortgages instead. You’ll learn: Why the Fed cut its benchmark rate and what their cautious tone signaled to markets. Why mortgage rates follow the 10-year Treasury and MBS spreads—not the Fed funds rate. What this means for homebuyers, homeowners, and real estate agents right now. Four smart refinancing moves to take before rates drop again. Whether you’re a homeowner looking to refinance or an agent answering client questions, this episode gives you the brutally honest truth about how Fed moves impact mortgage rates.