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 latest rise, to 6.79% for a 30-year mortgage, reflects bond market concern about President-elect Trump’s agenda. It extends an uptick in mortgage rates despite expected Federal Reserve rate cuts.

The Fed has officially cut interest rates twice this year. But read on to see whether you should run out to sign a mortgage or not.

On Nov. 7, the Federal Reserve implemented a 0.25% reduction to the federal funds rate, its second cut in over four years. Prospective homebuyers are eager for a silver lining in the housing market. But experts don't anticipate dramatically lower rates before the end of the year.

The Federal Reserve cut interest rates by a quarter of a percent as inflation begins the path to stabilization.