Though the Fed doesn't directly set mortgage rates, it influences them by altering the price of credit, which has a domino effect on mortgage rates and the broader housing market over the long term.

The average rate on a 30-year mortgage in the U.S. eased for the second week in a row, but remains just below 7%, little relief for prospective home shoppers looking ahead to the spring homebuying ...

While the Fed doesn’t set mortgage rates, the central bank’s decision to keep its main interest rate unchanged likely means mortgage rates won’t budge much in the near term. “With the Fed ...