This is big news as they have raised the rate 8 consecutive times since last year. Many buyers have been waiting for this announcement to start their home search and potentially come off the sidelines. What does all this mean for you as a buyer or seller? Well if we couple the rate pause along with last month's real estate data, we can see that low inventory, higher sales and now a rate pause could push more buyers to get off the sidelines and potentially see an increase in prices over the next couple of months.
