Fed policymakers need more confidence that inflation is steadily slowing to their target level before a rate cut. Interest rates affect mortgage rates.
Inventory is likely to rise this spring and throughout the summer on schedule with traditional seasonal trends. Buyers should target the late summer or early fall.
The average rate on a 30-year mortgage rose to 6.88% this week -- the highest level since early March. Rates on 15-year fixed-rate mortgages rose to 6.16%.
Homeowners moving off Citizens insurance might not see lower rates. They must accept private coverage if it’s within 20% of their Citizens coverage cost.
Goodwin Procter, one of the largest law firms in the world, said commercial real estate is ready to rebound. Rate cuts will boost real estate development.
More hopeful buyers are partnering with family or friends or renting rooms to achieve the goal of homeownership. Analysts say more homes need to be built in the U.S.