Republican lawmakers are dismissing the sluggish spring housing market, in which mortgage rates have climbed and home sales have slowed, as temporary.
The market was predicted to start bouncing back after inflation fell to its lowest point in several months in January and mortgage rates dropped below 6% for the first time since 2022. But real estate experts’ expectations for a recovery year have begun to fall off as a result of President Donald Trump’s war in Iran.
Congressional Republicans say this is short-term.