While the Fed doesn’t regulate your mortgage rate, the central bank sets the funds rate to impact the economy. This action indirectly influences the loan rates consumers pay. The Fed kept the key rate near zero during its last meeting, with no forecasted rate hikes through 2023.

The impact? It’s been pretty much as expected: a boost for stock market investors and so-so news for savers. But for prospective homebuyers, it’s brought more frustration: Mortgage rates have actually risen in recent weeks. Statewide, the median home price jumped 6.2 percent, to $600,000, as sales fell 3.7 percent.

Many Americans have been priced out of purchasing a home or making a move for years now amid elevated mortgage rates, sky-high home prices, and squeezed budgets due to inflation.

Mortgage rates are expected to gradually decline over the next year or so, but the immediate impact of rate cuts is unpredictable. Here's what you should know.

Deciding to rent or buy is no easy task. There are pros and cons to both. But with interest rates at all-time lows thanks to the Fed’s mortgage rate changes, making the decision might be a little easier if you’re still on the fence.

After waiting years for interest rate cuts from the Federal Reserve, home buyers are now facing even higher mortgage rates.

Bengali noted that as the data and seasonality ensued, the bond markets moved accordingly, and the Fed — being data dependent — "seems to be on the back foot each time, chasin