One of the questions I get asked more than almost any other is, "Should I wait for interest rates to come down?" The honest answer is... nobody knows for sure. The Federal Reserve has made it clear that inflation remains its biggest concern, and as long as inflation stays elevated, interest rates are likely to remain higher than many buyers would like. Financial markets continue to adjust their expectations almost daily based on new inflation reports, employment data, energy prices, and global events.

Over the past month, inflation showed one of its largest declines in quite some time, which was certainly encouraging. Much of that improvement has been attributed to lower energy prices after tensions in the Middle East temporarily eased. Since then, however, oil prices have become more volatile again as conflict with Iran has resurfaced, and new tariffs announced this week could also put upward pressure on prices if they increase the cost of imported goods. Neither of those events automatically means inflation will rise, but they are exactly the kinds of factors economists will be watching over the coming months.