Overview

• Mortgage rates declined for the fifth week in a row following indications from the Federal Reserve that interest rates will not rise as quickly as previously expected.
• While the Fed raised rates once more, it projected only one additional rate increase this year instead of two in its previous forecast, easing concerns about quickly rising rates.
• Lower mortgage rates are a relief for homebuyers but also reflect a slowing economy, which is worrying investors.
• With mortgage rates decreasing and home price growth stabilizing, the housing market may attract more buyers, although economic uncertainty remains.