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When the Federal Reserve announces a rate cut, why do mortgage rates sometimes go up instead of down? This puzzling financial paradox sits at the heart of my insightful conversation with mortgage expert Evelyn Freitas of Guaranteed Rate.
Drawing from over two decades of industry experience, Evelyn takes us behind the curtain of how mortgage rates actually work. She reveals the crucial distinction between the Fed's backward-looking policy decisions (made eight times yearly) and the real-time bond market activity that determines your mortgage rate. "The bond market already did it," Evelyn explains, illuminating why rates had already decreased weeks before the September 17th Fed announcement.
We explore the inner workings of the Federal Reserve Board itself—the 19 participants, 12 voters, and the mysterious "dot plot" that forecasts future rate movements. Evelyn breaks down why Chairman Powell's post-meeting press conference often impacts markets more than the rate decision itself, especially as the Fed navigates tensions between its inflation and employment mandates.
For homebuyers navigating today's market, Evelyn shares invaluable strategic advice. She compares temporary rate buydowns with permanent ones, outlines when adjustable-rate mortgages make sense, and explains why locking your rate early provides stability—like "standing on the ground while watching a turbulent plane fly by." With conventional rates currently in the low 6% range and some government-backed loans dipping below 6%, we discuss why crossing that psychological "5-handle" threshold could stimulate market activity.
Whether you're actively house-hunting, considering a refinance, or simply wanting to understand the economic forces shaping today's housing market, this episode delivers clarity on one of real estate's most misunderstood relationships: the dance between Fed decisions and the mortgage rates that impact millions of homeowners.

Evelyn Freitas is a licensed Mortgage Lender NMLS# 247578

Declan Spring is a licensed CA REALTOR® DRE#01398898