"Mortgage rates are likely to remain relatively stable in May. There's no doubt that we'll have daily ups-and-downs, but a major dive is unlikely to happen."
"The bond market has had a rough time with the Iran war because the conflict immediately sparked fears of inflation."
"Mortgage rates track the bond market, because when home loans are resold and packaged as investment vehicles called mortgage-backed securities (MBS), they attract similar investors to bonds."
Mortgage rates are projected to stay stable in May, with minor fluctuations expected. A significant increase in rates is unlikely unless there are major negative developments in Iran. The recent ceasefire has contributed to a calmer mortgage rate environment. However, the bond market remains sensitive to the Iran conflict, which has previously caused rapid increases in mortgage rates. Mortgage rates are influenced by bond yields, as they track the bond market closely due to the nature of mortgage-backed securities.
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