Home shoppers waiting for significantly lower mortgage rates this year may be disappointed, even if the next Federal Reserve chair wants to lower interest rates.
Last week President Donald Trump nominated a new chair for the US Federal Reserve. If confirmed, Kevin Warsh would take the role once current Chair Jerome Powell’s term ends in May.
Trump has said loudly and often that he wants lower interest rates, and Warsh’s recent views have suggested he too sees room for the Fed to cut rates, even as Powell last week said the central bank is on pause as it continues its fight against inflation.
After falling nearly a full percentage point from early-2025 highs, mortgage rates remain above 6%, making already-expensive homes even less affordable for Ameri
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