Technologies

How the Federal Reserve Actually Affects Mortgage Rates

Experts predict the Fed won’t start cutting rates until the fall at the earliest. That means we’re not likely to see mortgage rates drop below 6.5% for a while.

If you tracked the Federal Reserve’s monetary policy decisions last year, you might have been puzzled: The Fed’s three interest rate cuts didn’t bring about lower mortgage rates. In fact, the average rate for a 30-year fixed home loan has hovered around 6.8% for the past several months.

The Fed’s interest rate decisions don’t have a direct or immediate effect on home loan rates. Often, what the central bank says about its future plans can move the market more than its actual rate changes.

On Wednesday, the Fed is expected to hold off on cutting interest rates for the fifth time this year. While mortgage rates might see some ups and downs, many economists think they’ll stay pretty much the same — between 6.5% and 7% — until the economic outlook is clearer.

«Prospective homebuyers should know markets are forward-looking, and changes in mortgage rates can happen well in advance if markets can anticipate it,» said Kara Ng, senior economist at Zillow. «While a July cut is unlikely, markets are closely watching for signals about a possible September reduction,» Ng said.

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.

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 has been in a holding pattern throughout 2025. President Trump’s unpredictable tariff campaign, immigration policies and federal cutbacks threaten to drive up prices and drag on growth.

Despite the president’s repeated calls for policymakers to cut borrowing rates immediately, economists say the central bank has good reason to pause.

«Cutting rates prematurely — especially in response to political pressure — could undermine its commitment to controlling inflation,» said Ng. » Ironically, this could cause mortgage rates to rise, not fall, counteracting the intended stimulus.»

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 price growth is expected to tick back up in the coming months as companies pass on the cost of tariffs onto consumers.

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

While experts now predict an interest rate cut in the fall, Fed Chair Powell remains noncommittal on any specific timeframe.

Inflation could prompt the central bank to forgo one (or both) of its projected rate cuts, which would keep mortgage rates high.

On the flip side, if unemployment spikes — a real possibility given the slowdown in hiring and the uptick in layoffs — the Fed could be forced to implement interest rate cuts. 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.

What 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 Ali Wolf, Zonda and NewHomeSource chief economist.

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

Pixel Watch 4 Features vs. Apple Watch Series 10: Google Came to Play!

Google’s latest watch takes a direct hit at Apple with a new AI health coach and advanced emergency connectivity. Find out how they stack up.

Google’s Pixel Watch 4 is the newest player on the smartwatch field and it’s not holding back. With a sleek design, AI-powered health coach, first-of-its-kind emergency satellite connectivity and improved battery life, it’s a major leap forward for a relative newcomer that’s been edging its way up the ranks to compete with the heavy hitters of the wearable world.

The Apple Watch Series 10, meanwhile, remains a benchmark in the category. While technically at a disadvantage being last year’s model, it holds its own with more than a decade of refinements and deep integration with the iPhone and Apple’s extensive health and fitness ecosystem.

As smartwatches make the leap from wearable phone extensions to essential health and safety tools, these two flagships are redefining the category — especially with both companies controlling the full hardware and software experience on their respective platforms. And with Apple expected to debut its Series 11 in September, this face-off feels like just the opening move in what’s shaping up to be a high-stakes game of chess between two of the biggest names in tech. Here’s how the specs stack up on paper; we’ll conduct our full suite of tests for the full Pixel Watch 4 review.

Pricing and availability

Being an older model, the Apple Watch Series 10 can be found for a discounted rate through third party sellers like Best Buy and Walmart, but the original price of $399 is technically higher than the base price of the $350 Pixel Watch 4. However, the larger-size versions have less of a price gap with the 45mm Wi-Fi version of the Series 10 costing $429 and the Pixel Watch 4 equivalent costing $400. And the Apple Watch is the only one that offers a higher-end titanium model that costs about $200 more than the base aluminum. Both watches are rated for 5ATM water resistance and have IP6X dust protection.

Design and display

Both watches remain true to their original form factor and this category is more a matter of preference. The Pixel Watch 4 sticks with its signature circular design that looks closer to a traditional analog watch than the Apple Watch, with a bubble-like screen that curves outward for a sleek, all-display look. It comes in 41mm and 45mm sizes with silver, dark gray and gold aluminum finishes, plus interchangeable bands.

Apple, by contrast, hasn’t strayed from its signature rectangular shape since its launch. It’s more «tech» looking than the Pixel Watch, but it’s also slightly more practical for navigating apps and notifications. The Series 10 also has minimal bezels with a screen that expands into the thin frame and comes in a 42mm and 46mm version. The Apple Watch has a slightly higher pixel density for better image quality but the Pixel 4 is brighter with up to 3,000 nits peak brightness compared to the Apple Watch’s 2,000 nits.

Performance, software and AI

Under the hood, both watches run the latest versions of their respective software: WatchOS 10 for Apple and Wear OS 6 for the Pixel. Apple offers the usual tight integration with the iPhone, while Google leans on its Fitbit acquisition for health tracking and now its AI expertise with the built-in Gemini assistant.

And this is where the Apple Watch starts to lose its footing. Google’s Gemini voice assistant handles back-to-back commands, summarizes information from your apps and responds conversationally without shuttling you out to a web link — something Siri still struggles to match. Apple’s assistant remains more limited, often requiring repeat commands and leaning on your iPhone for anything beyond the basics. Even a cautious AI user like myself can’t help notice how Gemini’s added capabilities feel genuinely useful on the wrist, cutting down on screen taps and making it easier to get more done on the go.

Health and fitness features

This is another area where Google’s AI could give the Pixel Watch 4 an extra edge. Both watches set the standard in health and fitness features — Apple because of its longstanding commitment to health and fitness, and Pixel through its integration with Fitbit. Their metrics are accurate and easy to make sense of in their respective apps. But the Pixel 4 just stepped it up with a concierge style AI health coach (coming in October) that can help you interpret your health data and give personalized recommendations: everything from whether to rest or exercise on any given day, to how to improve sleep quality. Apple’s Workout Buddy, coming in watchOS 26, offers live feedback on a handful of workouts but isn’t as far along in pulling together a complete picture of your health data (at least not yet). The caveat, however, is that Google’s coach will require a Fitbit Premium subscription ($10/month after a trial), while Apple’s AI fitness tool is free.

Emergency features

Beyond health tracking, both watches add an extra layer of protection with a range of emergency tools, including fall and crash detection, workout check-ins and Emergency SOS. The Apple Watch leans more on proactive health alerts, like warnings for irregular heart rhythm and potential sleep apnea.

But the Pixel Watch 4 just boosted its emergency features by adding satellite connectivity. This means you can send a message for help even without a phone or cell service. The Apple Watch, by comparison, still relies on the iPhone or needs network coverage for models that are cellular-enabled to make an emergency call.

Battery and charging

On paper the Series 10 promises 18 hours of heavy use, though in our testing it’s consistently gotten closer to 26 to 30 hours with the always-on display active. Google claims 30 to 40 hours on the Pixel Watch 4 depending on size, giving it a slight edge, but it’s hard to pass judgment without our real world tests.

Charging speed is another strong point for both watches with quick charge capabilities, although the Pixel Watch 4 is still faster when you need a quick top-up. It reaches 50% in just 15 minutes and a full charge in an hour. The Series 10 also takes an hour to reach a full charge, but hits 80% in 40 minutes.

Google has also made the Pixel Watch 4’s battery and display easier to replace for repairs, a big step forward for long-term usability, while Apple hasn’t emphasized the same level of repairability on the Series 10.

Bottom line

If you’re all-in on Apple, the Series 10 still delivers everything you need in a smartwatch. But for Android users (or anyone curious about AI on the wrist) the Pixel Watch 4 shows Google is serious about challenging Apple’s dominance.

Pixel Watch 4 vs. Apple Watch Series 10: Specs at a glance

	Pixel Watch 4	Apple Watch Series 10
Design & sizes	Round, 41mm & 45mm	Square, 42mm, 46mm
Display	AMOLED LTPO, 320 ppi	LTPO3 OLED, 446 x 374 ppi
Thickness & weight	12.3mm; 31–36.7g	9.7mm; 30-41.7g (46mm titanium model)
Material & finish	Aluminum case: Silver, Champagne gold, Satin Moonstone or Matte black finish	Aluminum: Jet black, Rose gold or Silver finish; Titanium: Slate, Gold or Natural finish
Durability	5ATM water + IP68 (dust)	5ATM Water + IP6X (dust)
Battery life	30–40 hrs (always-on) + quick charge dock: 50% in 15min, 100% in 60 min	24-30 (always-on) + Fast charge: 80% in 30 min, 100% in 60 min
Sensors	ECG, SpO₂, heart rate, skin temp, loss of pulse detection	ECG, heart rate, skin temp, depth gauge, SpO2, Noise monitoring
Emergency features	Satellite SOS, Safety Check, Safety Signal, fall & crash detection	Emergency SOS, Fall detection, Crash detection, Check in and Backtrack
AI & coaching	Gemini voice assistant; Fitbit AI health coach (via Premium)	Siri (voice assistant); Workout Buddy
Processor	Qualcomm Snapdragon W5 Gen 2, Cortex-M55 co-processor	S10 SiP with 64-bit dual-core processor, W3 Apple wireless chip
RAM/Storage	2GB, 32GB (storage)	64GB (storage)
Payments	Google Wallet	Apple Pay
Price (US)	$350–$500	$399-$750 (titanium)

Technologies

Say Goodbye to Awful Cell Signal With These 10 Simple Fixes

These quick tricks can help you get better reception almost instantly.

Summer road trips are all about open roads, good company, and spontaneous detours. That is, until your phone loses service and the whole plan comes to a screeching halt. Whether it’s your GPS freezing mid-route, your music app buffering endlessly, or being unable to call for roadside help, poor cell reception can turn a carefree adventure into a frustrating mess. These dead zones tend to show up in the worst spots: backroads, mountain passes, or just that one stretch of highway where nothing seems to work.

Fortunately, you don’t need a new phone or a major tech upgrade to fix spotty service. There are several simple tricks you can try to get better signal on the go. From changing your network settings to repositioning your phone in the car for better line-of-sight, these small adjustments can make a noticeable difference. Whether you’re driving across state lines or just heading out for the weekend, these tips can help you stay connected and keep your trip running smoothly.

Whether you’re doing some routine phone maintenance or you’re stuck in an emergency, there are multiple ways to improve your reception on an iPhone or Android phone, no matter what type of phone plan you’re on. It might even come down to something as simple as toggling Airplane mode.

To go from dropped calls to full bars, here’s what you need to know. For more on iPhone and iOS, check out everything Apple announced at WWDC 2025.

Note: Although software across different iPhone models is relatively the same, Samsung Galaxy, Google Pixel and other Android phones may have different software versions, so certain settings and where they are located might differ depending on device.

For more, check out how you can use Google Maps when you’re offline and how you can maybe fix your internet when it’s down.

To improve your cellphone service, try these steps first

The settings on your phone can help you get better cell service, but there are other tricks for improving your reception without even touching your phone’s software.

Move yourself so that there are no obstructions between your phone and any cell towers outside. That might involve stepping away from metal objects or concrete walls, which both kill reception. Instead, get to a window or go outside if possible.
Remove your phone case. It doesn’t hurt to remove whatever case you have on your phone, especially if it’s thick, so that the phone’s antenna isn’t blocked by anything and can get a better signal.
Make sure your phone is charged. Searching for and connecting to a stronger signal drains power, so if your phone battery is already low on charge, you may have a difficult time getting good service.

Always start by turning Airplane mode on and off

Turning your phone’s connection off and then back on is the quickest and easiest way to try and fix your signal woes. If you’re moving around from one location to another, toggling Airplane mode restarts the Wi-Fi, Bluetooth and cellular network modems, which forces them to find the best signal in the area.

Android: Swipe down from the top of your screen — to access the Quick Settings panel — and then tap the Airplane mode icon. Wait for your phone to completely disconnect from its Wi-Fi and cellular connections. It doesn’t happen instantly, so give it a good 15 seconds before you tap on the Airplane mode icon again.

iPhone: On the iPhone, you can access Airplane mode from the Control Center, but that varies depending on which iPhone model you have. On the iPhone X and later, swipe down from the top-right corner to access the Control Center. On older iPhone models, swipe up from the bottom of the screen. Then tap the Airplane mode icon, which will turn orange when it’s enabled. Again, wait up to 15 seconds before turning it off.

If Airplane mode doesn’t work, restart your phone

Our phones are miniature computers, and just like computers, sometimes you can fix issues like network connection by simply restarting them.

Android: Hold down the power button, or the power button and the volume down key (depending on your Android phone), until the on-screen menu shows up, and then tap Restart. If your phone doesn’t offer a restart option, you can simply tap Power Off to shut down your device, and then boot it back up with the power button.

iPhone: On the iPhone X and older models, hold down the sleep/wake button and either one of the volume buttons and then swipe right on the power slider to turn off the device. Wait until it fully turns off, then press down on the sleep/wake button to turn it back on.

Alternatively, you can do a force reset on your iPhone: Press the volume up button, followed by the volume down button and then press and hold the side button. Keep holding it in, after your phone’s screen goes black and until you see the Apple logo appear again.

If your iPhone has a home button, hold down the sleep/wake button until the power slider is displayed and then drag the slider to the right. Once the device is turned off, press and hold the sleep/wake button until you see the Apple logo.

Older phone? Take your SIM card out

Another troubleshooting step that might help is to remove your SIM card, if your phone has one, and then place it back in with the phone turned on. If the SIM card is dirty, clean it. If it has any physical defects, you may need to replace it.

You’ll need a SIM card tool — usually included in your phone’s box — or an unfolded paper clip or sewing needle to get the SIM tray out of your phone.

All phones: Remove the SIM card, check to see if it’s damaged and positioned in the SIM tray correctly, then put it back in your phone.

eSIM: For phones with an eSIM — that is, an embedded electronic SIM in your phone — there’s nothing for you to remove. The best you can do is restart your phone.

Check your carrier settings (and update your software)

Mobile carriers frequently send out carrier settings updates to help improve connectivity for calls, data and messages on their network. Although this feature is available on all iPhone models, it’s not universal on Android, so you might not find carrier settings if you don’t have a supported phone.

iPhone: Carrier updates should just appear, and you can update from the pop-up message that appears. To force your iPhone to check for a carrier settings update, go to Settings > General > About on your phone. If an update is available, you’ll be prompted to install it.

Android: As mentioned before, not all Android phones have carrier settings, so you’ll have to open the Settings app and type in «carrier settings» to find any possible updates. On supported Pixels, go to Settings > Network & internet > Internet, tap the gear next to your carrier name and then tap Carrier settings versions.

Reset your phone’s network settings

Sometimes all you need is a clean slate to fix an annoying connectivity issue. Refreshing your phone’s network settings is one way to do that. But be forewarned, resetting your network settings will also reset any saved Wi-Fi passwords, VPN connections and custom APN settings for those on carriers that require additional setup.

Android: In the Settings app, search for «reset» or more specifically «reset network settings» and tap on the setting. On the Pixel, the setting is called Reset Wi-Fi, mobile & Bluetooth. After you reset your network settings, remember to reconnect your phone to your home and work Wi-Fi networks.

iPhone: Go to Settings > Transfer or Reset iPhone > Reset > Reset Network settings. The next page will warn you that resetting your network settings will reset your settings for Wi-Fi, mobile data and Bluetooth. Tap Reset Network Settings and your phone will restart.

Contact your phone carrier

Sometimes unexpected signal issues can be traced back to problems with your wireless carrier. A cell tower could be down, or the tower’s fiber optic cable could have been cut, causing an outage.

For consistent problems connecting to or staying connected to a cellular or data network, it’s possible your carrier’s coverage doesn’t extend well into your neighborhood.

Other times, a newfound signal issue can be due to a defect with your phone or a SIM card that’s gone bad. Contacting your carrier to begin troubleshooting after you’ve tried these fixes is the next best step to resolving your spotty signal.

If all else fails, try a signal booster to improve cell reception

If after going through all of our troubleshooting steps, including talking to your carrier to go over your options, you’re still struggling to keep a good signal — try a booster. A signal booster receives the same cellular signal your carrier uses, then amplifies it just enough to provide coverage in a room or your entire house.

The big downside here is the cost. Wilson has three different boosters designed for home use, ranging in price from $349 for single room coverage to $999 to cover your entire home. To be clear, we haven’t specifically tested these models. Wilson offers a 30-day money-back guarantee and a two-year warranty should you have any trouble with its products.

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Technologies

Today’s NYT Strands Hints, Answers and Help for Aug. 24 #539

Here are hints and answers for the NYT Strands puzzle for Aug. 24, No. 539.

Looking for the most recent Strands answers? Click here for our daily Strands hints, as well as our daily answers and hints for The New York Times Mini Crossword, Wordle, Connections and Connections: Sports Edition puzzles.

Today’s NYT Strands puzzle is a tough one. Long words, short words, they’re all over the map. If you need hints and answers, read on.

I go into depth about the rules for Strands in this story.

If you’re looking for today’s Wordle, Connections and Mini Crossword answers, you can visit CNET’s NYT puzzle hints page.

Read more: NYT Connections Turns 1: These Are the 5 Toughest Puzzles So Far

Hint for today’s Strands puzzle

Today’s Strands theme is: Plug your ears.

If that doesn’t help you, here’s a clue: Check the decibel level.

Clue words to unlock in-game hints

Your goal is to find hidden words that fit the puzzle’s theme. If you’re stuck, find any words you can. Every time you find three words of four letters or more, Strands will reveal one of the theme words. These are the words I used to get those hints but any words of four or more letters that you find will work:

BLAST, LAST, LABS, TING, STING, BOOT, DENT, DENTS, GOON, NITS, SIRE, STIR, RISE, ROSE

Answers for today’s Strands puzzle

These are the answers that tie into the theme. The goal of the puzzle is to find them all, including the spangram, a theme word that reaches from one side of the puzzle to the other. When you have all of them (I originally thought there were always eight but learned that the number can vary), every letter on the board will be used. Here are the nonspangram answers:

LOUD, NOISY, BOOMING, BLASTING, STRIDENT, BOISTEROUS

Today’s Strands spangram

Today’s Strands spangram is HUBBUB. To find it, look for the H that’s five letters down on the far-right row, and wind backwards.

Toughest Strands puzzles

Here are some of the Strands topics I’ve found to be the toughest in recent weeks.

#1: Dated slang, Jan. 21. Maybe you didn’t even use this lingo when it was cool. Toughest word: PHAT.

#2: Thar she blows! Jan.15. I guess marine biologists might ace this one. Toughest word: BALEEN or RIGHT.

#3: Off the hook, Jan. 9. Similar to the Jan. 15 puzzle in that it helps to know a lot about sea creatures. Sorry, Charlie. Toughest word: BIGEYE or SKIPJACK