How closely do mortgage interest rates tend to follow the Fed’s rate decisions?

The Federal Reserve’s rate decisions can influence mortgage rates, but they are also affected by factors like inflation, the bond market, and the overall economy. Mortgage rates tend to follow the federal funds rate, and lenders may adjust rates in anticipation of Fed rate changes. Whether to buy a home now or wait depends on personal finances and goals. While no one can predict Fed decisions with certainty, borrowers may benefit from lower rates if the Fed continues to cut rates.