After the pandemic, a rapid rise in home prices coincided with stubbornly high mortgage rates, shutting out potential buyers.
The anticipated interest rate cuts would deliver relief for many consumers -- but not all of them.
A surging economy has complicated the Fed's fight to cool price increases.
In some cases, people with better credit scores may pay more in fees, while those with lower credit scores will pay less.
"Contrary to popular belief," says one loan officer, "Every interest rate that a homebuyer ends up with is pretty much custom-made or tailored to their specific situation."
Home mortgage rates just hit 5% for the first time in more than a decade. That means the monthly cost of buying a typical home has surged by more than a third over the past year.
