But there are now signs that maybe, just maybe, the worst could be over for homebuyers. “June, in particular, has started to show the housing market slowing down in favor of buyers,” said Skylar Olsen, Zillow’s chief economist. While the Fed doesn’t directly set mortgage rates, its actions do influence borrowing costs throughout the economy. For the past two years, potential homebuyers have faced a double whammy of high prices and high mortgage rates. “We’re sitting today at probably, if not the worst affordability ever, really close to the worst affordability ever — so we almost have nowhere to go but up,” Sharga said.

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Persons: ”, Skylar Olsen, Green, Rick Sharga, CJ Patrick Company, “ We’re, ” Sharga, “, ” Olsen, “ That’s, Sharga, Leslie Heindel, ” Heindel Organizations: CNN, homebuyers, Federal Reserve, Fed, Reserve, CJ, Homes, Wall Street Locations: New Orleans