Another pause in Fed interest rate cuts may disappoint homebuyers
Americans hoping for interest rates to fall will likely have to wait until the summer.
When mortgage rates spiked from 3.5% to nearly 7% in 2022, the Covid-era housing boom was brought to an abrupt end. The sustained high rates have frozen the market, making homeownership pricier for buyers and discouraging sellers from listing properties.
Many potential buyers have opted to delay buying a home until rates drop to a more palatable level, making the financial commitment more affordable.
