Technologies

Does Next Week’s Fed Meeting Matter for Mortgage Rates? Yes and No

Homebuyers are still waiting on lower mortgage rates as the Fed looks to push off interest rate cuts.

If you followed the Federal Reserve’s monetary policy decisions last year, you might have been puzzled: The Fed’s three interest rate cuts didn’t translate into cheaper mortgages. In fact, the average rate for a 30-year fixed home loan has hovered around 6.8% since late fall.

On Wednesday, the central bank is expected to extend a pause on interest rate cuts for a fourth consecutive time this year. Though mortgage rates could see some volatility, many economists expect them to stay somewhat flat until there’s a drastic change in the economic picture.

Rates will stay in the 6.75% to 7.25% range unless the Fed signals multiple cuts soon and backs it up with data, said Nicole Rueth, of the Rueth Team with Movement Mortgage. «Homebuyers waiting on rates to drop drastically might be disappointed,» Rueth said.

The relationship between the Fed’s interest rate decisions and home loan rates isn’t direct or immediate. Often, what the central bank says about future plans can move the market more than its actual actions. Mortgage rates are driven by the bond market, investor expectations and a host of other economic factors.

«Mortgage rates move on expectations, not announcements,» said Rueth.

All eyes will be on Fed Chair Jerome Powell’s post-meeting remarks. If Powell signals concerns about lingering inflation or the chance of fewer cuts, bond yields and mortgage rates are likely to climb. If he expresses optimism about inflation being under control and hints at ongoing policy easing, mortgage rates could dip.

«It’s most often the case that longer-term interest rates begin to decline before the Fed cuts rates,» said Keith Gumbinger, vice president at HSH.com.

Here’s what you need to know about how the government’s interest rate policy influences your home loan.

What is the Federal Reserve’s relationship to mortgage rates?

The Fed sets and oversees US monetary policy under a dual mandate to maintain price stability and maximum employment. It does this largely by adjusting the federal funds rate, the rate at which banks borrow and lend their money.

When the economy weakens and unemployment rises, the Fed lowers interest rates to encourage spending and propel growth, as it did during the COVID-19 pandemic.

It does the opposite when inflation is high. For example, the Fed raised its benchmark interest rate by more than five percentage points between early 2022 and mid-2023 to slow price growth by curbing consumer borrowing and spending.

Changes in the cost of borrowing set off a slow chain reaction that eventually affects mortgage rates and the housing market, as banks pass along the Fed’s rate hikes or cuts to consumers through longer-term loans, including home loans.

Yet, because mortgage rates respond to several economic factors, it’s not uncommon for the federal funds rate and mortgage rates to move in different directions for some time.

Why is the Fed postponing interest rate cuts?

After making three interest rate cuts in 2024, the Fed is now in a holding pattern. With President Donald Trump’s unpredictable tariff campaign, immigration policies and federal cutbacks threatening to drive up prices and drag on growth, economists say the central bank has good reason to pause.

«The Federal Reserve is in one of the trickiest spots in recent economic history,» said Ali Wolf, Zonda and NewHomeSource chief economist.

Lowering interest rates could allow inflation to surge, which is bad for mortgage rates. Keeping rates high, however, increases the risk of a job-loss recession that would cause widespread financial hardship.

Recent data show inflation making slow but steady progress toward the Fed’s annual target rate of 2%. But given the uncertainty surrounding Trump’s economic agenda, the central bank isn’t in a hurry to lower borrowing rates.

What is the forecast for Fed cuts and mortgage rates in 2025?

While experts now predict an interest rate cut in the fall, Powell remains noncommittal on any specific time frame.

«I’m eyeing September for the first rate cut, if inflation keeps cooling and the labor market weakens,» Rueth said.

However, tariffs are the big wildcard. Rueth said that if a trade war fuels inflation, rates could jump even without a Fed move. Political dysfunction, rising debt and global instability are also a recipe for rate volatility.

«The mortgage market reacts fast to uncertainty, and we’ve got no shortage of it this summer,» Rueth said.

On the flip side, if unemployment spikes — a real possibility given rising jobless claims — the Fed could be forced to implement interest rate cuts earlier than anticipated. In that case, mortgage rates should gradually ease, though not dramatically.

Most housing market forecasts, which already factor in at least two 0.25% Fed cuts, call for 30-year mortgage rates to stay above 6% throughout 2025.

«We might see rates settle into the low to mid-6% by year-end,» Rueth said. «But we’re not going back to 3%.»

What other factors affect mortgage rates?

Mortgage rates move around for many of the same reasons home prices do: supply, demand, inflation and even the employment rate.

Personal factors, such as a homebuyer’s credit score, down payment and home loan amount, also determine one’s individual mortgage rate. Different loan types and terms also have varying interest rates.

Policy changes: When the Fed adjusts the federal funds rate, it affects many aspects of the economy, including mortgage rates. The federal funds rate affects how much it costs banks to borrow money, which in turn affects what banks charge consumers to make a profit.

Inflation: Generally, when inflation is high, mortgage rates tend to be high. Because inflation chips away at purchasing power, lenders set higher interest rates on loans to make up for that loss and ensure a profit.

Supply and demand: When demand for mortgages is high, lenders tend to raise interest rates. This is because they have only so much capital to lend in the form of home loans. Conversely, when demand for mortgages is low, lenders tend to slash interest rates to attract borrowers.

Bond market activity: Mortgage lenders peg fixed interest rates, like fixed-rate mortgages, to bond rates. Mortgage bonds, also called mortgage-backed securities, are bundles of mortgages sold to investors and are closely tied to the 10-year Treasury. When bond interest rates are high, the bond has less value on the market where investors buy and sell securities, causing mortgage interest rates to go up.

Other key indicators: Employment patterns and other aspects of the economy that affect investor confidence and consumer spending and borrowing also influence mortgage rates. For instance, a strong jobs report and a robust economy could indicate greater demand for housing, which can put upward pressure on mortgage rates. When the economy slows and unemployment is high, mortgage rates tend to be lower.

Read more: Fact Check: Trump Doesn’t Have the Power to Force Lower Interest Rates

Is now a good time to get a mortgage?

Even though timing is everything in the mortgage market, you can’t control what the Fed does. «Forecasting interest rates is nearly impossible in today’s market,» said Wolf.

Regardless of the economy, the most important thing when shopping for a mortgage is to make sure you can comfortably afford your monthly payments.

More homebuying advice

Technologies

Your Pixel 10 Might Have Issues With Older Wireless Chargers

You might want to try taking the case off your phone in order to successfully charge it.

When Google introduced the Pixel 10 lineup in August, it became one of the first major Android phones to receive the Qi 2 wireless charging standard, which Google calls Pixelsnap. However, users noticed issues with wireless charging on the Pixel 10 almost immediately after its release.

Some people are having trouble charging their phone with the new Pixelsnap charger, and others are having issues with older wireless chargers, including Google’s own Pixel Stands. The bulk of the problems happen when a case is on the phone — whether it has the magnet array or not.

I own both the first and second generation Pixel Stands and both will charge my Pixel 10 Pro XL without an issue if there’s no case on it. However, when I add a case to my phone, the problems begin.

I have three cases for my phone, the Mous Super Thin Clear Case, the Magnetic Slim Case Fit by Grecazo, and a no-name soft TPU case. If my phone has any of those cases on and I attempt to charge it while it’s vertical, it starts to charge and then stops after a second or two, and keeps doing that.

I can fix this for the first-generation Pixel Stand by turning the phone horizontal, but it will still charge very slowly. I can’t seem to fix it at all for the Pixel Stand 2 — vertical, horizontal, it doesn’t charge.

Not everyone has this issue

The problem doesn’t seem to be universal. CNET editor Patrick Holland said he had no issues charging the Pixel 10 Pro during his time with it.

A Google spokesperson told me the Pixel 10 lineup is not optimized for older Qi wireless charging standards, but that doesn’t necessarily mean the phones won’t work with older wireless chargers.

Qi 2 is backwards-compatible with older standards, but the phone’s height and charging coil placement on both the phone and the charger are still factors. If you’re having problems, you might see if removing the case helps.

The prospect of potentially needing to replace your older wireless chargers with newer ones isn’t ideal, especially if you shelled out $80 for one or both of Google’s own Pixel Stands. Still, if you want the best wireless charging speed for your brand new Pixel 10 phone, it won’t be with wireless chargers that only support older Qi standards.

Technologies

Today’s NYT Connections: Sports Edition Hints and Answers for Sept. 19, #361

Here are hints and the answers for the NYT Connections: Sports Edition puzzle for Sept. 19, No. 361.

Looking for the most recent regular Connections answers? Click here for today’s Connections hints, as well as our daily answers and hints for The New York Times Mini Crossword, Wordle and Strands puzzles.

The yellow category in Connections: Sports Edition is always easy, but today’s seemed like a no-brainer. The other categories aren’t too tough, either, especially for midwesterners. But if you’re struggling but still want to solve it, read on for hints and the answers.

Connections: Sports Edition is published by The Athletic, the subscription-based sports journalism site owned by the Times. It doesn’t show up in the NYT Games app but appears in The Athletic’s own app. Or you can play it for free online.

Read more: NYT Connections: Sports Edition Puzzle Comes Out of Beta

Hints for today’s Connections: Sports Edition groups

Here are four hints for the groupings in today’s Connections: Sports Edition puzzle, ranked from the easiest yellow group to the tough (and sometimes bizarre) purple group.

Yellow group hint: Spotted on TV.

Green group hint: Unusual team names.

Blue group hint: Air Jordan.

Purple group hint: The Big House is another one.

Answers for today’s Connections: Sports Edition groups

Yellow group: Things seen on an NFL sideline.

Green group: NBA teams with singular nicknames.

Blue group: Teams Michael Jordan played for.

Purple group: Big Ten stadiums.

Read more: Wordle Cheat Sheet: Here Are the Most Popular Letters Used in English Words

What are today’s Connections: Sports Edition answers?

The yellow words in today’s Connections

The theme is things seen on an NFL sideline. The four answers are benches, chains, coaches and medical tent.

The green words in today’s Connections

The theme is NBA teams with singular nicknames. The four answers are Heat, Jazz, Magic and Thunder.

The blue words in today’s Connections

The theme is teams Michael Jordan played for. The four answers are Barons, Bulls, UNC and Wizards.

The purple words in today’s Connections

The theme is Big Ten stadiums. The four answers are Beaver, Camp Randall, Ohio and Spartan.

Technologies

AirPods Pro 3 vs. AirPods Pro 2: Should You Upgrade?

Here’s a look at the key differences between Apple’s latest flagship noise-canceling earbuds compared with their predecessor.

With Apple releasing the AirPods Pro 3, folks who already own the AirPods Pro 2 may be wondering whether it’s worth upgrading.

A good portion of my full review of the AirPods Pro 3 is devoted to discussing the differences between the two models. Here’s how I conclude my review: «Several new features, such as Live Translation, will be available for the AirPods Pro 2, so many AirPods Pro 2 owners won’t feel the need to upgrade right away. But if you’ve been using AirPods Pro 2 for a while, it might be worth passing them on to a friend or relative and upgrading to the Pro 3s.»

Read more: Best wireless earbuds of 2025

AirPods Pro 3 vs. AirPods Pro 2: What’s stayed the same

The AirPods Pro 3’s list price is still $249 (£219, AU$429). That wasn’t a given with all the uncertainty surrounding the Trump administration tariffs, but we’ll see how the price shakes out on Amazon and other retailers, where AirPods models often get discounted.
The AirPods Pro 3 are powered by Apple’s H2 chip, the same one that powers the AirPods Pro 2, AirPods 4 and Beats Powerbeats Pro 2. Rumors pointed to an H3 chip, but that didn’t happen.
No new color options; white is still the only option.
The AirPods Pro 3 stick with Bluetooth 5.3, just like the AirPods Pro 2 (though some true-wireless earbuds have already jumped to Bluetooth 6.0).
The buds still feature a MagSafe charging case with USB-C and wireless charging. However, no USB-C charging cable is included (Apple also left out a charging cable with the AirPods 4, though most people have a USB-C cable).

AirPods Pro 3 vs. AirPods Pro 2: What’s changed

While they look similar to the previous model, the AirPods Pro 3 have been redesigned. Their geometric shape has changed a bit, with the angle of the bud shifted. They’re the same length but slightly smaller width-wise, slightly larger depth-wise and weigh a touch more (5.55 grams vs. 5.3 grams on the AirPods Pro 2).
The AirPods Pro 3 come with new foam-infused silicone eartips in five sizes, including a new extra-extra small size.
The AirPods Pro 3 are equipped with heart-rate sensors like the Beats Powerbeats Pro 2.
2x better noise cancellation compared to the AirPods Pro 2, according to Apple.
While the AirPods Pro 3 have 10.7mm drivers like the AirPods Pro 2, those drivers have been upgraded to take advantage of the buds’ new multiport acoustic architecture, which moves more air through the buds and improves sound quality.
The AirPods Pro 3’s microphones have been upgraded.
The AirPods Pro 3’s Transparency Mode has been enhanced.
New Live Translation feature (also available for the AirPods Pro 2 and AirPods 4 series, but not the Beats Powerbeats Pro 2).
The AirPods Pro 3’s battery life has improved to 8 hours with noise cancellation on and up to 10 hours in Hearing Aid mode with transparency on. The AirPods Pro 2 are rated for up to 6 hours of battery life with noise-canceling on.
Instead of being IPX4 splash-proof like the AirPods Pro 2, the AirPods Pro 3 got an IP57 rating (so did their charging case), which means they can withstand a sustained spray of water. (I poured water on them and they survived just fine.) They’re also dust-resistant.
The AirPods Pro’s case now includes a U2 chip, boosting Precision Finding range in the Find My app by 1.5x (requires an iPhone 17). The AirPods Pro 2’s case has the U1 chip.
Like with the AirPods 4, the AirPods Pro 3’s case no longer has a button for Bluetooth pairing. You simply double-tap on the front of the case to put the buds into Bluetooth pairing mode. The AirPods Pro 2 have a physical button for Bluetooth pairing.

The AirPods Pro 3’s new geometric shape and eartips are among the biggest changes

While the AirPods Pro 3 and AirPods Pro 2 look very similar at first glance, they do feel different in your ears. That’s because the AirPods Pro 3’s new eartips are made of silicone but infused with foam toward the front of the ear tip. Also, the angle of the bud has been adjusted so the eartips point more directly into your ear canals.

If you’re someone who couldn’t quite get a good fit with the original AirPods Pro or Pro 2, the new design could very well help you get a snugger, more secure fit. The fact is that a tight seal is crucial for optimal sound and noise-canceling performance, and Apple redesigned the eartips to make sure users could hear the sound and noise-canceling upgrades with the AirPods Pro 3.

Alas, the new AirPods Pro 3 tips don’t work with earlier AirPods Pro models; they attach differently.

Do you really need the AirPods Pro 3’s heart-rate monitoring?

I personally don’t feel that heart-rate monitoring is a must-have feature, particularly if you already own a smartwatch with the feature. But for some folks, it will be a welcome addition. The heart-rate sensors have been custom-designed for the AirPods Pro 3 (they’re Apple’s smallest heart-rate sensors) and aren’t identical to the ones in the Powerbeats Pro 2, but the experience using the heart-rate monitoring feature is the same.

How much better are the AirPods Pro 3 than the AirPods Pro 2?

It’s always hard to put an exact percentage on how improved one generation of a product is to the next, and there are always some people who will prefer the older model for whatever reason. But for me, the AirPods Pro 3 are about 20-25% better.

While they both use the H2 chip, the newest AirPods have been redesigned on the outside and inside, and most people should notice the improvements to sound quality, noise cancellation and fit.

If you own the original AirPods Pro, I wouldn’t hesitate to recommend upgrading, especially if your battery life has decreased.

If you’re happy with your AirPods Pro 2, there’s no hurry to upgrade unless your battery life has become an issue (some people have the older AirPods Pro 2 with a Lightning connector for charging instead of USB-C). The previous generation supports most of the same features as the AirPods Pro 3 (aside from heart-monitoring), including Live Translation and Hearing Aid mode.

It’s worth pointing out that the AirPods Pro 3 offer slightly better speech clarity for Hearing Aid mode (with Automatic Conversation Boost) and better battery life — up to 10 hours with Transparency and Hearing Aid mode. That makes the AirPods 3 the better choice if you have small to moderate hearing loss and plan to use your AirPods as hearing aids.

AirPods Pro 2 vs. AirPods Pro 3 vs. AirPods 4 with ANC spec comparison

	AirPods Pro 2	AirPods Pro 3	AirPods 4 with ANC
Weight (each earbud)	0.19 ounce (5.13 grams)	0.20 ounce (5.5 grams)	0.15 ounce (4.3 grams)
Weight (case)	1.79 ounces (50.8 grams)	1.55 ounces (43.99 grams)	1.22 ounces (34.7 grams)
Water resistant	IPX4	IP57	IP54
Sensors	Skin-detect sensor, Optical in-ear sensor, Motion-detecting accelerometer, Speech-detecting accelerometer, Force sensor	Skin-detect sensor, Optical in-ear sensor, Motion-detecting accelerometer, Speech-detecting accelerometer, Force sensor, heart-rate sensor	Optical in-ear sensor, Motion-detecting accelerometer, Speech-detecting accelerometer, Force sensor
Microphones	Dual beamforming microphones, inward-facing microphone	Dual beamforming microphones, inward-facing microphone	Dual beamforming microphones, inward-facing microphone
Chip	H2	H2	H2
Conectivity	Bluetooth 5.3	Bluetooth 5.3	Bluetooth 5.3
Active Noise Cancelation, Transparency mode	Yes	Yes	Yes
Conversation Awareness, Adaptive Audio	Yes	Yes	Yes
Voice Isolation, Personalized volume	Yes	Yes	Yes
Battery life	Up to 6 hours +30 hours with case	Up to 8 hours +24 hours with case	Up to 5 hours +30 hours with case
Wire in box	Yes	No	No
Launch Price	$249	$249	$179