"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."
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.
Read at SFGATE
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