Forget the "Fed put." These days, it's starting to seem like the Federal Reserve has been working on a new derivative: the Fed call. That's according to Doug Ramsey, chief investment officer and portfolio manager at the Leuthold Group.

Traders of contracts that settle to the Federal Reserve's policy rate moved Wednesday to price in a firmer chance of another quarter-point interest-rate cut at the central bank's meeting next month, after a government report showed consumer inflation rose in October in line with economist expectations.

U.S. inflation ticked higher in October, but stable core price pressures and tame month-on-month gains prompted a sigh of relief on Wall Street and likely supported bets for an end-of-year interest rate cut from the Federal Reserve.

The Consumer Price Index rose 2.6% versus a year ago in October — falling in line with expectations, the Labor Department said on Wednesday.

On Nov. 7, the Federal Reserve implemented a 0.25% reduction to the federal funds rate, its second cut in over four years. Prospective homebuyers are eager for a silver lining in the housing market. But experts don't anticipate dramatically lower rates before the end of the year.

Mortgage rates, in particular, surged last year to their highest level since 2000 but have since come down alongside inflation. But it's been a bumpy ride back to the bottom in recent weeks. What, then, does this latest Fed rate cut mean for mortgage interest rates? That's what we'll break down below.

U.S. stocks were on track to open higher on Wednesday after in-line consumer price inflation data kept the Federal Reserve on track to cut interest rates in December. The consumer price index rose 0.2% for the fourth straight month,

New inflation data out Wednesday showed consumer prices rose as forecast in October, keeping the Federal Reserve on track to lower interest rates again in December. The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) increased 2.