Industry experts believe mortgage rates will remain higher for longer, attracting borrowers who face life events but not “economic gamers“ to the mortgage market. In turn, this will force some lenders to think out of the box to attain profitability.

On Wednesday afternoon, the Federal Reserve announced its decision to maintain its short-term policy interest rate at a range of 5.25% to 5.5% for a sixth consecutive meeting, due in part to resilient inflation. Many monetary policy observers are betting on only one rate cut this year, far lower than the five or six cuts details ⇒

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