HousingWire Daily Why mortgage rates rose after the Fed meeting, and what’s next
6 snips
Sep 19, 2025 
Logan Mohtashami, a lead analyst known for his insights into mortgage and housing market trends, joins Sarah Wheeler to discuss the recent fluctuations in mortgage rates following the Fed's actions. They delve into how Powell's remarks created market volatility and the unpredictable swings in yields. Mohtashami also outlines what’s needed for mortgage rates to dip below 6%, emphasizing the disconnect between the bond market and the Fed. Listeners gain valuable insights into the complex dynamics shaping today's housing market.
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Volatility Around Fed Moves
- Mortgage pricing saw sharp volatility around the Fed meeting, with the 10-year yield swinging and spreads reversing quickly.
- Logan Mohtashami says short-term turmoil often unwinds over time but creates headaches for loan locks.
Fed Policy Limits Rate Drops
- The 10-year yield and mortgage spreads drove pricing moves more than immediate economic data reactions.
- Logan argues getting mortgage rates under ~6% is hard with neutral Fed policy and current spreads.
Weak Jobs In Specific Sectors
- Job growth is weak and some sectors (manufacturing, residential construction) are shedding jobs despite population growth.
- Logan highlights the 10-year yield has already done heavy lifting for the Fed across 2023–2025.