A FOX Business analysis compared the average monthly payments on 30-year fixed-rate mortgages in October 2021 – when rates hovered around 3.09% – and two years later, with rates racing toward 8%.

Potential homebuyers and sellers have been holding off on making a move amid elevated mortgage rates and sky-high prices. But will the Federal Reserve's rate cut make a difference?

Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. The scandal-ridden bank announced a significant shift on Tuesday to focus its mortgage business on ...