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In a recent study by the National Association of Realtors, the San Francisco and San Jose metro areas were expected to benefit the least from lower mortgage rates among the nation’s 100 largest metro areas, with less than a 4% increase in affordability. Image courtesy PhotoSpin.

After two years of high rates, the Federal Reserve cut its benchmark interest rate by a half-point in September, marking the first and biggest cut in four years. The Fed also indicated that it could make more cuts before the end of this year and into 2025. 

So what do these changes mean for homebuyers? Not necessarily better deals or lower home prices in places like Silicon Valley, where there is much pent-up demand and extremely low inventory. […]

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