Markets are expecting interest rate cuts this week after powerful Federal Reserve Chair Jerome Powell signaled he was open to a slight reduction in a speech Aug. 22, a move prospective homebuyers hope could trickle down and improve mortgage rates.

But first-time homebuyer Jade Spencer, 26, simply couldn’t wait longer for rates to drop. She’s under contract to buy a four-bedroom Irvington home for around $300,000, a price she deems a “steal." Her mortgage rate is around 6.5%, but she said she’d consider refinancing or moving homes if rates dropped significantly.

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