ABC15 is taking a look at how federal interest rates impact mortgage rates. The Federal Reserve on Thursday slashed its benchmark interest rate by a quarter of a percentage point to 4.5-4.75%— marking

When the Federal Reserve lowered its benchmark interest rate by half a percentage point in September, it wasn't a particularly surprising move. At that point, the Fed was expected to make its first rate cut of the year in response to cooling inflation.

Though the Federal Reserve has been cutting interest rates, mortgage rates have been increasing or holding steady. When will potential homeowners see mortgage relief.

The mortgage interest rates of 2020 and 2021 may never reappear but, if they do, it will be a gradual process to get them back there (minus a catastrophic economic downturn). Homebuyers and homeowners looking to refinance, then, shouldn't wait for a perfect circumstance that's unlikely to materialize.

Borrowing costs on 15-year fixed-rate mortgages also slipped by .01 percent this week to 5.99 percent from 6 percent last week. Meanwhile, borrowing costs on 30-year and 15-year h

Real Estate News Average rate on a 30-year mortgage slips for first time in weeks Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance the