In expectation of lower interest rates, mortgage interest rates have already come down from over 8 percent. They could decrease even more if the Fed signals further rate cuts later this year beyond what financial analysts are expecting. … According to a recent paper by Jack Liebersohn, an economics professor at the University of California Irvine, and his co-author Jesse Rothstein at the University of California Berkeley, higher interest rates meant that homeowners with mortgages were 16 percent less likely to move in 2022 and 2023 than in 2021.

For the full story, please visit https://www.vox.com/economy/372384/interest-rate-home-price-real-estate-mortgage-fed-decision.