No Sting This Week! Mortgage Rates Sweeten Ahead of Fed Meeting

Mortgage rates just delivered something sweet again this week—no sting for buyers or homeowners! 🍯

As part of my ongoing Honey vs Sting weekly update, I track whether rates are improving (honey) or getting worse (sting). This week, we’re in the clear with another dose of honey.

The big story? All eyes are on the Federal Reserve’s upcoming FOMC meeting, concluding on Wednesday, September 17. The market is already anticipating a rate cut—and mortgage rates have been moving ahead of the announcement. That’s right: mortgage rates don’t wait for the Fed’s official move. They price in expectations early.

Here’s what to watch for:

1. The size of the cut. Will the Fed move by 0.25% or take a bigger step with a 0.50% cut?
2. Forward guidance. Will Chair Jerome Powell signal more cuts coming in October or December?

Powell will likely emphasize two themes: a weakening job market as justification for the cut, and the Fed’s continued commitment to bringing inflation back down to 2%.

For now, though, rates are holding steady in a positive direction—which means one more week of honey instead of a sting. That said, I have a feeling our streak of sweet news might not last much longer.

👉 Watch this week’s full Honey vs Sting update here:

If you’re thinking about buying a home, refinancing, or just want to stay on top of mortgage trends, now’s the time to connect. The market is moving fast, and the smartest borrowers move with it.