Even though the Fed cut interest rates in 2024 and 2025, mortgage rates have stayed high, frustrating many would-be homebuyers.

The average long-term U.S. mortgage rate eased this week from its highest level in nine months, welcome relief for prospective homebuyers.

The average mortgage payment has surged past $2,000 for the first time, reaching $2,005 as high mortgage rates, rising home prices, and persistent inflation reshape the U.S.…