If you are waiting to buy an affordable home when rates drop, you're out of luck

Sat, 02/17/2024 - 06:03

Federal Reserve rate cuts could make mortgages more accessible in 2024.
But, despite lowered rates, steep home prices and cost of living may still hinder homeownership.
High demand and an affordable housing shortage in many cities could keep homes expensive.

Interest rates could drop by summer, according to Federal Reserve forecasts, but buyers shouldn't expect homes to become more affordable.