The Federal Reserve has opted to keep its key policy rate steady at 4.25% to 4.5%, resisting pressure from President Trump to lower rates immediately. Fed Chair Jerome Powell emphasized the uncertainty surrounding the impact of Trump's tariffs on inflation and labor markets, advocating for a cautious approach. This decision is expected to maintain mortgage rates in the high 6% range, preventing any major relief for homebuyers. Realtor.comâs Chief Economist Danielle Hale noted that home sales are likely to remain near historically low levels despite an increase in available properties, highlighting ongoing market challenges.
The Federal Reserve's decision to keep policy rates unchanged reflects a cautious approach in response to economic uncertainty, particularly regarding Trump's tariffs.
Fed Chair Jerome Powell stated that the effects of tariff increases on inflation and the labor market are highly uncertain, necessitating a wait-and-see approach.
Realtor.com Chief Economist Danielle Hale noted that mortgage rates are unlikely to decrease significantly soon, remaining in the high 6% range due to numerous unknowns.
Home sales activity is expected to stay at historically low levels despite a slight increase in available homes for buyers, indicating ongoing market challenges.
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