The average 30-year fixed mortgage rate is around 6.5% at press time , and June existing home sales fell to a nine-month low . In fact, one in seven potential deals fell through that month, according to data from the National Association of Realtors (NAR). Home prices, meanwhile, are still rising, up 2% from a year ago.

Basically, the real estate market is a mess right now . And house hunters are wondering if they will ever see relief, at least in the form of lower interest rates.

Experts say it will happen, but now is not the time to start holding your breath. Mortgage rates will only go below 6% when the rate of inflation drops much closer to the Fed's goal of 2%, says Melissa Cohn , regional vice president of William Raveis Mortgage.

"It will also take a softening economy a

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