Mortgage rates increased slightly following the Federal Reserve’s interest rate cut, with the average 30-year rate at 6.22% and 15-year rate at 5.54%. The Fed anticipates another rate cut in 2026, impacting Treasury yields. Economic data on US hiring and inflation next week could further influence mortgage rates. Refinancing applications rose 14% while home purchase applications fell 2%.

Read more at Yahoo Finance: Mortgage rates inched up last week but remain near year-to-date lows