The Federal Reserve cut interest rates by 0.25% on November 7. More interest rate cuts are likely through the end of 2026.

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

Mortgage rates, in particular, surged last year to their highest level since 2000 but have since come down alongside inflation. But it's been a bumpy ride back to the bottom in recent weeks. What, then, does this latest Fed rate cut mean for mortgage interest rates? That's what we'll break down below.