What to Expect as Mortgage Rates Stabilize

Following the Federal Reserve's 0.25% rate hike, the 30-year fixed mortgage rate rose to 6.95%, the highest since January 2025, marking the largest weekly increase in 16 months. Inflation concerns, driven by global conflicts and rising energy prices, are pushing rates higher. With ample housing inventory, buyers hold an advantage, and sellers are offering more discounts. Mortgage rates near 7% may become the new normal amid ongoing economic uncertainty.