What the Fed's rate cut means for mortgage rates

Consumers can look at 10-year Treasury Notes to predict future mortgage rates, says a W. P. Carey real estate expert.

In this article published Sept. 21, 2025, in The Arizona Republic:

I think the Fed's rate cut was already tied into lower mortgage rates. To see where mortgage rates are headed, look at 10-year Treasury Notes.

— Mark Stapp, Fred E. Taylor Professor of Real Estate, executive director of the Master of Real Estate Development program, and director of the Experiencial Learning Lab at the W. P. Carey Center for Real Estate and Finance