The Federal Reserve announced it will not cut rates today, maintaining the target range for the federal funds rate at 4.25% to 4.5%. This means mortgage rates will remain unchanged too at about 7% depending on initial deposit, loan amount and credit score. The Fed is strongly committed to supporting maximum employment and returning inflation to its 2% objective. The message is don't count on any big rate cuts this year. Buy when the time is right for you. You can always refinance if rates drop in future years.
The Price Gouging Has Begun