The Federal Reserve decided recently not to boost interest rates at the last Federal Open Market Committee meeting. Thus, if you've been considering refinancing your mortgage, you might think it's.
Sales of homes in the United States ticked down in July, according to industry data released Tuesday, as elevated mortgage rates and limited housing supply held buyers back.Sales of existing homes "likely have further to fall over the rest of the year as higher mortgage rates and a mild recession squeeze demand and keep supply conditions tight," said economist Michael Pearce of Oxford Economics.