Reported 2 months ago
The Federal Reserve is hinting at potential interest rate cuts in September, driven by easing inflation, yet high mortgage rates may remain a significant hurdle for homebuyers. Currently, the 30-year fixed mortgage rate is around 6.73%, significantly higher than the pandemic lows, and experts predict it will stay above 6% well into 2025. As a result, the anticipated rate cuts are unlikely to provide meaningful relief for those seeking to enter the housing market.
Source: YAHOO