Many Americans hoping for relief in the housing market are still waiting.
Despite a series of Federal Reserve interest-rate cuts in 2024 and 2025, mortgage rates remain elevated, frustrating homebuyers, homeowners looking to refinance, and anyone hoping for a more affordable path into the housing market.
According to data released by Freddie Mac on June 4, the average rate on a 30-year fixed mortgage stood at 6.48 percent. While that is slightly below some recent peaks, it remains well above the levels many buyers became accustomed to during the pandemic years. [Read more…] about Why mortgage rates remain stubbornly high despite Federal Reserve rate cuts