The Fed keeps interest rates steady. What does that mean for CA mortgages?

The Federal Reserve is unlikely to lower interest rates soon, with only one rate cut expected by year-end. California's economy is predicted to grow steadily, facing challenges like government finance and homelessness. Inflation rates are decreasing, with California's prices expected to rise by 3.1% this year. The Fed aims to lower inflation to 2% annually. Mortgage rates are fluctuating, impacting home sales in California, especially for homes under $500,000. Housing supply is increasing, potentially boosting sales in the coming months.