A tiny sigh of relief
Mortgage rates got a brief reprieve after ceasefire talks helped calm geopolitical nerves. Nice while it lasted, but this wasn’t exactly a victory lap — more like the market taking one hand off the steering wheel for a second.
Then the Fed walked in
The bigger force is still the Fed, and it’s not exactly waving a green flag for lower borrowing costs. A hawkish central bank keeps pressure on yields, which means mortgage rates can stay stubborn even when headlines get a little less spicy.
What that means for housing
For buyers, this is the kind of environment that turns open houses into a game of patience. For refinancers, it’s basically a reminder to keep your calculator in the drawer and your expectations realistic.
- Home purchases stay harder to pencil out
- Refinancing activity remains sleepy
- The spring housing freeze may stretch deeper into the year
Big picture: until the Fed changes its tune, the mortgage market may keep acting like it’s waiting for a better offer that never quite shows up.