Mortgage rates rose to 6.35% after the Fed cut rates. Powell noted rate changes can affect mortgage rates. Treasury yields initially fell after the cut but rose due to unemployment data. Rates had been falling before the cut as markets anticipated it and hiring slowed.

Fed officials predict two more rate cuts this year. Experts believe rates won’t drop much further. Refinancing demand surged 58% last week. Rocket’s CBO expects rates to remain flat. Home sales have been slow despite lower rates due to high prices.

Read more at Yahoo Finance.: Mortgage rates ticked up after the Fed cut, following a familiar path