Holding out for a meaningful dip in mortgage rates? You may be in for a long wait. Here’s what to know.
LOS ANGELES — Homeownership is likely to remain a pipe dream for many Americans this spring homebuying season.
The nation’s worst housing slump in nearly a decade stoked hope among prospective buyers that homes could be scooped up more easily. But while prices appear to have peaked last summer, they still ended 2022 higher than they were at the end of 2021. And the median U.S. home price has increased 42% since 2019.
A series of interest rate increases by the Federal Reserve
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