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Story summary
- A Federal Reserve rate cut on December 10 is expected, with a 90% chance of lowering the target range to 3.50%–3.75%, which could reduce mortgage rates.
- Lenders may have already adjusted their rates in anticipation.
- Borrowers should shop around and act quickly to secure favorable mortgage terms.
- Market reactions to Federal Reserve Chair Jerome Powell's comments after the meeting could further influence rates.
