Housing Market Could Be Headed for a Change

April's dip in inflation could help reduce mortgage rates which have struggled under the highest borrowing costs for more than two-decades.The annual rate of rising prices cooled month-on-month to 3.4 percent in April from 3.5 percent in March. And this slight lowering could shape the trajectory of mortgage rates which have been trending upward over the last few weeks.

08 percent, the lowest level since early April,' Joel Kan, the MBA's deputy chief economist, said in a statement shared with Newsweek. Housing economists suggested that April's inflation reading could indicate that prices are back on the path down toward the Fed's 2 percent target, which in turn could lead to a decline in mortgage rates going forward.'To see mortgage rates dip below 7 , we'll need to see inflation back on the path to 2 .

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