I have a question for the economic gurus among us.

Recently the Fed lowered its rate by .50, and 30 year fixed mortgage rates shot up immediately.

So if the Fed raises its rates to try and control inflation, why would we not then expect to see lower mortgage rates as a result?

Being about 3 to 4 months from needing to lock in a loan, this is important to me, but I don’t have that much understanding of how these factors interact.