Fed Cuts Rates: What It Means for Homebuyers!

The Federal Reserve just cut interest rates by 50 basis points, which will lower mortgage costs and potentially bring more buyers back into the housing market. But don’t expect home prices to drop anytime soon. Fed Chair Jerome Powell says the real issue is a lack of supply, with a shortage of 4 million homes in the U.S. This supply-demand imbalance is likely to keep prices high, even as mortgage rates fall. The Fed's focus now is to get inflation down and make borrowing more affordable for Americans."