Following the Fed's 0.5% rate cut in September, mortgage rates went up, not down. Even though the central bank's policy decisions and economic outlook affect credit markets, the F

The Fed is expected to cut rates for a second straight month but by a smaller amount. How and when consumers may feel the effects isn't as clear.

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.