A rapid slowdown in the rate of U.S. inflation appears to have lost steam, potentially raising questions about how aggressively the Federal Reserve will cut interest rates early next year.

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.