Mortgage Rates Remain Steady Despite Economic Uncertainty

Current mortgage rates hover around 6.87% as the Federal Reserve holds off on rate cuts.

30-year fixed mortgage rates are averaging 6.87%, slightly higher than last week's low.
Refinance rates also show minimal movement, with averages near 6.90%.
Experts predict no significant rate cuts until at least September, pending further inflation data.
Home prices are expected to rise modestly in 2024, driven by low housing supply.
Federal Reserve's next meeting on rate adjustments is scheduled for July 31.