The way to lower mortgage rates is to bring down the long end of the yield curve. To bring down the long end of the yield curve, you need lower asset prices, not lower short term rates. Lower short term rates can put upward pressure on inflation, thus making the long end go higher. To get a more affordable housing market, they have to let asset prices drop. Until that happens, mortgage rates will not durably improve. But you’ll have people screaming that lower rates will make housing more affordable, but in reality it has the opposite effect. I think it will take around 6-12 months for people to accept this reality. Until then, you’ll see people parrot the same talking points until the evidence is undeniable that their view is wrong.