Average 30-year fixed mortgage rates remained close to 6.8% this week, offering little relief to homebuyers already facing stubborn borrowing costs. The flat reading came as markets weighed the Federal Reserve’s latest outlook, which suggested policymakers may move more slowly on rate cuts than some investors had hoped.

The steady mortgage level reflects a housing market still constrained by high financing costs and limited affordability. Even modest changes in rates can affect monthly payments, keeping many buyers on the sidelines and forcing others to adjust their budgets or search for cheaper homes.

Fed projections released this week pointed to a more cautious path on inflation, with officials signaling they want clearer evidence that price growth is cooling before easing policy further. That stance has helped keep longer-term borrowing costs elevated, even as some expectations for faster cuts fade.

For homeowners and prospective buyers, the latest data underscores a familiar message: relief may come slowly. Until inflation cools more decisively, mortgage rates are likely to remain sensitive to every shift in the central bank’s outlook and broader bond market expectations.