Mortgage rates are creeping higher after the Federal Reserve cut benchmark interest rates on Wednesday, a counterintuitive but common phenomenon. The average 30-year fixed mortgage rate rose 9 basis points on Wednesday to 6.22%, according to Mortgage News Daily, and Treasury yields, which closely track mortgage rates, are moving higher Thursday. Mortgage rates ticked up after the central bank delivered its widely expected 25 basis-point cut, but Fed Chairman Jerome Powell cautioned that “there is no risk ...