Some experts expect the reduction could come as soon as next month, though Powell did not provide a specific timeline. “The time has come for policy to adjust,” the Fed chair said in a speech. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”

Chris Whitten, president-elect of the Rhode Island Association of Realtors, told the Globe Friday that buyers who had been waiting for mortgage rates to fall may now move to acquire homes. The 30-year fixed-rate mortgage currently averages close to 6.5 percent, according to Freddie Mac.

Whitten suggested that lower borrowing costs could encourage potential homeowners from across the border in Massachusetts, for example, to look for more affordable options in Rhode Island.

In July, the median price for a single-family home in Rhode Island had risen to $495,000, a 12.5 percent increase over a year ago. While home prices may be going up in the Ocean State, in neighboring Massachusetts homes are even more expensive. The median price of a single-family home in the Bay State is $678,500, according to the Massachusetts Association of Realtors.

During the pandemic when rates were lower, willing buyers who were priced out of Massachusetts towns close to the Rhode Island border — like Rehoboth, North Attleboro and Plainville — were looking to purchase in the Rhode Island communities of Lincoln, Cumberland, Burrillville and East Providence, where homes were less expensive, Whitten said.

“What I anticipate with the rates coming down is that you’re going to have a lot of people coming from Massachusetts looking over the border, because things are a little bit more affordable,” he told the Globe. “We did see that happen, and I really anticipate that will be the case again, once the rates start to go low, because we’re going to have more buyers in the market and the prices going up due to the supply and demand.”

Whitten said that Rhode Island has struggled to build enough homes to match increasing demand. “Here’s another thing that’s sadly unique to Rhode Island. We are dead last in new construction build and we are also dead last in the country in permits, the start of new construction,” Whitten said. “We are a small state, and we love it for so many reasons, but we are a small state that doesn’t have a lot of land to develop.”

Rhode Island Realtors has been working to encourage policymakers to reduce red tape to allow for more homes to be developed, Whitten said, to increase the supply of homes and ease the pressure on prices in the state’s housing market.

“You’re looking at a lot of existing, preexisting, homes that everybody is going to be buying and selling and very, very, very few new construction homes,” he said.

Omar Mohammed can be reached at omar.mohammed@globe.com. Follow him on Twitter (X) @shurufu.

For most kids, school is officially back in session. It’s an exciting time of year with lots of activity and changes in routine for the whole family.

To celebrate the start of a brand new academic year, why not take the kids out for a special back-to-school dinner? Here are five restaurants in the Exeter area that are sure to be a hit with parents and kids alike.

Please note: We recommend calling ahead to confirm the restaurant’s hours and if possible, making a reservation for you and your crew.

1. Back 40

Address: 20 S County Trail, North Kingstown, RI 02852
Phone Number: (401) 667-4869
Website: back40ri.com

2. Celestial Cafe

Address: 567 S County Trail, Exeter, RI 02822
Phone Number: (401) 295-5559
Website: celestialcaferi.com

3. Gregg’s

Address: 4120 Quaker Ln, North Kingstown, RI 02852
Phone Number: (401) 294-5700
Website: greggsusa.com

4. Frankie’s Restaurant and Pizzeria

Address: 1051 Ten Rod Rd, North Kingstown, RI 02852
Phone Number: (401) 295-2500
Website: frankiesri.com

5. Filippou’s Restaurant

Address: 670 Ten Rod Rd, North Kingstown, RI 02852
Phone Number: (401) 294-4767
Website: filippouspizza.com

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In what might be the most dramatic jukebox-related drama of the decade, a Providence, Rhode Island, man found himself in the ER Tuesday morning—apparently for the crime of choosing the wrong song. Yes, police reports reveal that the man, who’s in his 40s, was subjected to an impromptu brawl after selecting a track that apparently triggered a full-blown, three-man beatdown.

Here’s how it all went down: According to Go Local Prov, the unfortunate music enthusiast was at Deadbeats Bar on Knight Street, innocently enjoying his night when he dared to pick a song on the jukebox that didn’t sit well with a trio of 30-something music critics. Instead of just rolling their eyes or making snide comments—like any normal, rational person—they opted to drag him outside and proceeded to deliver a beatdown.

By the time the police arrived around 1 AM, the poor guy had already lost consciousness. When they found him, he had a cut on his chin that was still bleeding and his face was completely swollen.

So there’s the story. I know, I know, you want to know what the song was. So do I! There was no mention of that, yet I’m still dying to know. I’m assuming this was an old school jukebox.

I’m a fan of the much more igognito TouchTunes app on your phone. No, not because I don’t have to get up from my seat to play a tune, but more so because I might be that guy that likes discretely toss on a tune that doesn’t fit the vibe of the bar. Yup, wasting a buck to watch peoples reactions is totally worth it… not to mention, a much lower chance of getting beat up by some roudy fellas that don’t care for your music selection.