Federal Reserve interest rate decision can affect the cost of mortgages. But that lix from the Fed to your monthly payment isn’t direct. Fed decisions affect the investors demand for debt products like treasury bills and mortgage-backed securities. The shifting demand will, in turn, affect the rates Americans pay for new mortgages. Meanwhile, the Fed is reducing its holdings of debt, which it accrued during recent economic emergencies. That reduction in the Fed's assets, particularly mortgage-backed securities holdings, could keep upward pressure on mortgage rates. The upward pressure may keep rates elevated even as the Fed reduces the federal funds rate heading into 2025.

美联储的利率决策会影响抵押贷款的成本。但美联储的决策与您每月还款之间的联系并不是直接的。美联储的决策影响了投资者对债务产品(如国债和抵押贷款支持证券)的需求。这种需求变化反过来会影响美国人支付的新抵押贷款利率。与此同时,美联储正在减少它在经济危机期间积累的债务资产,特别是抵押贷款支持证券的持有量。这种资产的减少,特别是抵押贷款支持证券的减少,可能会对抵押贷款利率施加上行压力。这种上行压力可能会导致利率保持在较高水平,即使美联储在2025年进入降息周期。