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International Business Times UK
International Business Times UK
Business
Jim Manzon

Mortgage Rates Hit 6.32% as Homebuyers Face Pre-Fed Squeeze — Lenders Jump Gun Before Tomorrow's Cut

United States CBS News Inflation US Federal Reserve
Rising borrowing costs and stagnant wages are increasing financial strain on families already struggling with affordability. (PHOTO: Maria Ziegler/Unsplash)

Mortgage rates have climbed to 6.32% on the eve of the Federal Reserve's final 2025 meeting, leaving prospective homebuyers facing an unexpected squeeze just as relief seemed imminent. According to The Mortgage Reports, the 30-year fixed mortgage rate increased by five basis points on Monday to 6.324%. Lenders appear to be acting ahead of Wednesday's widely expected rate cut.

For a typical American household aiming for the median-priced home of $415,200 (£312,251), the monthly mortgage payment is now approximately $2,052 (£1,543). This amounts to roughly 24% of the average family's income, based on analysis from Bankrate cited by CBS News.

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