The average long-term U.S. mortgage rate rose for the fourth consecutive week to its highest level in a year.
The anticipated interest rate cuts would deliver relief for many consumers -- but not all of them.
A surging economy has complicated the Fed's fight to cool price increases.
In some cases, people with better credit scores may pay more in fees, while those with lower credit scores will pay less.
"Contrary to popular belief," says one loan officer, "Every interest rate that a homebuyer ends up with is pretty much custom-made or tailored to their specific situation."
People ready to make the leap and buy a home are surprised to see how much mortgage interest rates have surged in the past two months.
