Mortgage rates move higher after the Fed rate cut, causing loan demand to drop

by anastasiakaufman-chime-me

Published Wed, Dec 17 20257:00 AM ESTUpdated 5 Hours Ago

SAN FRANCISCO, CALIFORNIA - AUGUST 27: An aerial view of homes in a neighborhood on August 27, 2025 in San Francisco, California. According to a report by the California Association of Realtors, sales of existing, single-family homes in California fell 4.1 percent year over year, with a total of 261,820 homes sold in July 2025. (Photo by Justin Sullivan/Getty Images)

An aerial view of homes in a neighborhood on Aug.27, 2025 in San Francisco, California.

Justin Sullivan | Getty Images

The Federal Reserve cut its benchmark interest rate last week, and just as happened the last two times, mortgage rates rose. That caused demand for home loans and refinances to drop.

Total mortgage application volume fell 3.8% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.’ LEARN MORE…

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