Later today, the Federal Reserve is expected to extend a pause on interest rate cuts for a fourth consecutive time this year. While mortgage rates could see some volatility, many economists expect them to stay relatively flat until the economic picture changes.

Changes to the Fed rate directly affect the rates lenders charge for most loans, while other Federal Reserve policies can encourage banks to accept or reject more loan applications. Here's what to know before you apply or refinance.

M2 money stock has plateaued since April 2022, with excess liquidity idling in the banking system. Find out the impact of M2 money trends, Fed policies, and clashes on inflation.