The October payrolls were the weakest since December 2020. With just 12,000 net new jobs added during the month, more Federal Reserve interest rate cuts are coming.

He also reaffirmed his intention to stay at the Fed until his four-year term as chair expires in May 2026.Asked if he thought a president could remove him or other senior personnel from their positions before their terms end,

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.