A pressured interest rate cut won’t actually lower mortgage rates. It could do the opposite, an economist said. If there is doubt about the central bank’s independence—whether it is politically neutral and committed to its dual mandate of stable prices and maximum employment—it could result in more chaos in the bond market. That would likely push rates on 10-year Treasuries up, and send mortgage rates soaring. 

Read more: https://tinyurl.com/mr45r97y