Mortgage Rates See Modest Rise as Federal Reserve Holds Key Interest Rate

Despite a slight increase in mortgage rates, the Federal Reserve maintains its benchmark rate, emphasizing a cautious approach to inflation.

30-year fixed mortgage rates average 7.11%, up from last week's 7.06%.
15-year fixed mortgage rates rise to 6.61%, increasing by 6 basis points.
The Federal Reserve has held its benchmark interest rate at 5.25% to 5.50% for the sixth consecutive time.
Inflation shows signs of easing, with consumer prices rising by 3.4% year over year.
A $418 million settlement with the National Association of Realtors may alter real estate commission structures starting in July.