Mortgage rates remain stubbornly high this summer, affecting prospective homebuyers significantly and impacting the market.
Despite recent slight dips, the average 30-year fixed mortgage rate hovers around 7%, deterring many potential home purchases.
The Federal Reserve's upcoming meeting will likely maintain current interest rates due to stable unemployment figures, for now.
Experts predict that mortgage rates will stay near 6.8% through 2025, creating uncertainty in the housing market.
