Let’s skip the hype for a second and get real about what’s going on in the market—especially with mortgage rates bouncing around this month.
The past few weeks have felt like a rollercoaster. Rates crept back above 7 percent, and now they’re hovering just under that at around 6.87 percent, according to Mortgage News Daily.
March gave us a bit of calm, but April? Totally unpredictable. And that’s left a lot of buyers and sellers sitting on the sidelines, waiting for something to “make sense.”
Here’s what I’ve been telling my clients and community:
You don’t need a crystal ball—you just need to understand the fundamentals.
Four Things We Know Right Now
1. Inflation is still high
It’s come down from the 2022 peak, but it’s still above the Fed’s 2 percent target. That’s keeping mortgage rates higher for now. Until we see sustained drops in inflation, don’t expect major rate cuts overnight.
2. Unemployment is low
We’re sitting under 4.1 percent. That’s a strong labor market, which helps keep housing stable. As long as people have jobs, there’s buying and selling happening.
3. The Fed may cut rates—but not mortgage rates directly
The Fed is projected to cut its benchmark rate 3 to 4 times this year. That doesn’t mean mortgage rates instantly fall, but it helps influence investor behavior and long-term optimism in the market.
4. Forecasts point to gradual relief
Most experts—from Fannie Mae to Wells Fargo—expect rates to end the year somewhere between 6.25 and 6.5 percent. And if we dip into the 5s? That could unlock serious momentum from buyers who’ve been waiting on the fence.
So What’s the Move?
If you’re a buyer:
Waiting for the perfect time might mean missing the best opportunities. When everyone else is frozen, the market gets quieter—and that’s when smart moves can be made.
If you’re a homeowner:
I get it. Over 80 percent of current mortgages are under 6 percent. But if your life has changed—your strategy might need to change too. Rate shouldn’t be the only thing guiding your decision.
Final Thought
At the end of the day, my job isn’t just to track the market—it’s to help you understand it so you can move forward with clarity.
If you’ve been thinking about buying, selling, or just reworking your plan, reach out. Let’s talk strategy that fits your life right now—not just the headlines.
