While Trump has sought to pressure the Fed to cut rates, consumer rates on mortgages and other loans are determined by a range of factors largely outside of the president’s control.

The Federal Reserve lowered rates again but economists worry that Donald Trump’s victory could reignite inflation in 2025.

Mortgage rates, in particular, surged last year to their highest level since 2000 but have since come down alongside inflation. But it's been a bumpy ride back to the bottom in recent weeks. What, then, does this latest Fed rate cut mean for mortgage interest rates? That's what we'll break down below.