Every living former chair of the Federal Reserve, along with a bipartisan group of former Treasury Secretaries and other government officials, urged the Supreme Court on Thursday to block President Donald Trump from firing Fed governor Lisa Cook in an unprecedented clash that raises serious questions about central bank independence.

The Fed's rate cuts have delivered meaningful relief to the mortgage market, with 30-year rates reaching their most attractive levels in nearly three years. For a $400,000 mortgage, this translates to monthly savings of roughly $240 compared to rates earlier this year, plus substantial long-term interest savings over the loan's lifetime.