Interest Rates have been stubbornly high. Many folks don't realize that the Fed isn't the only entity that has control of mortgage interest rates. Most mortgages are targeted to the 10 Yr Treasury, and it is traded on the open market. To some extent, investor sentiment (supply / demand) has as much or more to do with mortgage rates than Fed policy. In this case, uncertainty over the Iran War, untenable US National Debt, and high inflation have kept rates high. For perspective, the Fed has "lowered rates" by 75 bps over the past year, but Mortgage rates have little changed. If Americans want lower Mortgage rates - we have to start by removing the uncertainty of War - then work on the National Debt crisis.
If you need help in understanding home affordability and searching for you next home - look to Maryland's One-Stop Real Estate Source - EZ Team - Robert and Christine. Call us today - 410-271-9499.
https://www.realtor.com/news/trends/mortgage-interest-rates-now-july-16-2026/