The Fed cut rates, so why are mortgages rising? Let’s break it down on this Weekend Market Review with Brett Witkowski.

The S&P 500 remains in an uptrend. On September 17th, the Federal Reserve cut short-term interest rates to a target range of 4% – 4.25%. Alongside that, we saw the updated dot plot, which suggests this could be the final cut of the year.

Meanwhile, the U.S. 10-Year Treasury hit a low of 4.02% on September 16th but has since climbed to 4.19%. That rise is key because longer-term rates drive mortgages, auto loans, and financing for big-ticket items. Unlike short-term rates, these are not directly controlled by the Fed. As a result, we may not see meaningful relief on mortgages or other large financing costs in the near term.