RALEIGH, N.C. (WTVD) -- The Federal Reserve lowered interest rates by a quarter of a point during its meeting Wednesday, which comes on the heels of underwhelming economic reports showing stagnant hiring and rising national unemployment .

"There may be a bump in inventory because we think we've got some sellers that may be sitting on the sidelines waiting to come on the market, while we've got some buyers that are also sitting on the fence waiting to jump off the fence, kind of waiting to see and stabilize those interest rates," said Sandy Edwards, a broker with Coldwell Banker.

Mortgage rates had already been falling ahead of the anticipated cut. According to Freddie Mac , as of last week, the 30-year fixed-rate mortgage was 6.35% and the 15-year fixed-rate mortgage was 5.5%, bot

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