Mortgage rates and car loan rates will not see a big drop this week (around November 7, 2024), assuming the Federal Reserve cuts rates by 0.25% as widely expected.
"if the Fed does what the markets expect, you might not see any shakeup with bonds, mortgage rates, refinance rates, or car loan rates because lenders have already priced in the fact that the Fed will probably cut interest rates by 0.25%. So unless the Fed does something different, you might not see a big drop in mortgage rates or car loan rates."
