Mortgage rates saw a slight decrease to 6.62% for 30-year fixed loans as global market volatility persists due to President Trump's tariff announcements. The rates are lower than in 2024, suggesting a consistent trend under 7%. Despite the turbulence in stock markets, driven by abrupt tariff changes and their implications on international trade, mortgage rates have remained stable, potentially indicating a favorable homebuying season ahead. However, consumer uncertainty looms due to ongoing tariff negotiations and economic fluidity, impacting decisions in the housing market.
The average 30-year fixed-rate mortgage continues to trend down, remaining under 7% for the 12th consecutive week, indicating a favorable spring homebuying season.
All of the back-and-forth over the last week has left the market and consumers reeling, but mortgage rates have held relatively steady so far.
A pause on the most severe tariffs is certainly welcome news, but consumers may be feeling justifiably fatigued.
Collection
[
|
...
]