How Much You’d Pay Each Month on a $600,000 Mortgage After December’s Fed Decision
After months of mixed and often conflicting economic signals — from inflation that has cooled but remains above the Federal Reserve’s comfort zone to a U.S. labor market showing clearer signs of slowing — the Fed moved again in December, announcing a 25-basis-point interest rate cut at the conclusion of its latest policy meeting. The decision marked the third rate reduction in just four months, bringing the federal funds rate to its lowest level since 2022 and underscoring a meaningful shift away from the aggressive tightening campaign that defined the past few years. For many prospective homebuyers who have been sidelined by elevated borrowing costs, the move could offer a long-awaited sense of relief. While it doesn’t instantly translate into cheaper home loans, the Fed’s pivot has helped reset expectations across financial markets — an important factor for anyone closely watching the direction of mortgage interest rates. Mortgage rates don’t respond directly to changes in...