Fed signals borrowing costs may stay high

The Federal Reserve held its benchmark rate steady for a fifth consecutive meeting, but three officials favored an increase as persistent inflation and a potentially higher neutral rate cloud the outlook for borrowing costs. The shift suggests mortgage rates and other consumer loan rates could remain elevated longer than many borrowers expect.

Helping buyers look beyond the price

Real estate agents can help buyers make more informed decisions by focusing on the full monthly payment, including taxes, insurance and association fees, rather than the listing price alone. Discussing those costs early can prevent surprises, narrow the home search and demonstrate the value of an agent’s market knowledge.