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glimmer of hope emerged in the housing market last week, as mortgage rates plummeted following President Trump's tariff announcement. For homebuyers, this development is a welcome respite from the economic uncertainty that looms large on the horizon. As Taylor Addie, a Portland-based real estate agent, observed, "The mood has shifted; people are feeling like they've got a window of opportunity." With rates dropping to 6.55% for a 30-year fixed mortgage, buyers now have more purchasing power than they did just weeks ago.

    However, the broader economic landscape remains precarious, and the tariffs' impact on construction costs threatens to undermine the benefits of lower interest rates. Addie noted that even with more affordable financing options, would-be buyers are facing an uphill battle due to a severe shortage of available homes. "It's not just about the rate; it's about finding something to buy," he said.

    The paradox is stark: while mortgage rates have never been lower, the lack of inventory and cautious home sellers are making it increasingly difficult for buyers to capitalize on this advantage. As Addie astutely pointed out, "You might be able to afford a house, but can you find one?" The answer, for now, remains elusive.