On Nov. 7, the Federal Reserve implemented a 0.25% reduction to the federal funds rate, its second cut in over four years. Prospective homebuyers are eager for a silver lining in the housing market. But experts don't anticipate dramatically lower rates before the end of the year.

If that is sustained and we are in a structurally more productive economy going forward, then that tells me we probably wouldn’t end up cutting quite as far.”

Minneapolis Fed President Kashkari on Saturday said there would probably be fewer interest rate cuts than expected if the U.S. economy stayed strong. Read more here.