The Federal Reserve cut its key interest rate for the second time this year on Wednesday in a move that experts say could lead to lower mortgage rates before the end of the year; however, much depends on what happens with the U.S. economy in the coming months.

“The initial reaction in bonds is muted, and mortgage rates are steady,” Melissa Cohn, the regional vice president of William Raveis Mortgage and a 43-year mortgage industry veteran, said in a statement shared with Newsweek . That could change before the end of the year, she added, saying, “Mortgage rates could keep falling.”

What Do We Know About the Fed’s Decision?

The U.S. central bank cut interest rates by a quarter of a percentage point to a range of 3.75 percent to 4 percent on Wednesday, as was widely expected . It di

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