Why mortgage rates are actually going up after the Fed cut interest rates

1. Fed cut interest rates by 25 basis points; mortgage rates unexpectedly increased. 2. Mortgage rates rose 9 basis points post-Fed decision; 30-year rate hit 6.37%. 3. Investors anticipate future Fed policy, affecting mortgage rate volatility. 4. Fannie Mae predicts 30-year rates to drop to 6.1% by next year. 5. Current housing purchase activity remains muted; refinancing interest has increased.