As I’m sure you heard, the Federal Reserve raised interest rates by 0.25% last Wednesday. Despite recent banking collapses, the Fed continued on its course to curb inflation. However, in Jerome Powell's recent meeting, there were indications that they may pause future hikes. Here are 5 takeaways to keep in mind.

Since the announcement, according to Market Watch, mortgage rates have fallen to their lowest level since early February. If we continue to see this trend, I would expect a continued rebound in buyer demand as we head into the Spring homebuying season.

In fact, we've already seen an increase in bidding wars. This week, I put this cute Highland Park Bungalow into escrow and we beat out 7 other offers!