The Fed is set to issue its first rate cut since 2020 this week. Here's how far mortgage interest rates could then drop.

The decline in mortgage costs, influenced by expectations of the Federal Reserve’s rate moves, could revive interest in buying, selling and remortgaging, economists said.

Expectations of a rate cut from the Federal Reserve this afternoon has pulled the 30-year fixed rate mortgage down to it’s lowest level since September 2022, according to a report from the Mortgage Bankers Association.