Mortgage rates have recently decreased, moving from approximately 6.9% to around 6.6% for a 30-year fixed mortgage.
However, economic instability and a potential recession are creating significant uncertainty in the housing market.
This uncertainty, coupled with inflation and a slowing job market, is impacting prospective homebuyers' decisions.
Experts predict mortgage rates might remain above 6.5% throughout the year, despite these recent minor decreases.
