"Looking ahead, the Fed’s wait-and-see approach is likely to keep mortgage rates at a high-6% in the near term, unless major policy developments or economic shifts occur, such as notable outcomes from the upcoming U.S.-China trade talks scheduled for this weekend," says Realtor.com ® economist Jiayi Xu.

The Fed paused rates again at its May meeting, so could mortgage rates finally fall? Here's what to expect now.