Mortgage Rates Hold Steady Amid Economic Uncertainty

Despite recent stability, experts anticipate potential rate decreases later in the year, influenced by inflation trends and Federal Reserve policies.

Mortgage rates for popular 30-year and 15-year terms remain unchanged as of April 4, 2024, with the 30-year fixed rate at approximately 7.125% and the 15-year fixed rate at around 6.125%.
Experts predict a possible reduction in mortgage rates in the coming months, contingent on cooling inflation and adjustments in the Federal Reserve's interest rate policies.
The Federal Reserve maintained its benchmark interest rate at a 23-year high of 5.25% to 5.50% during its March meeting, with expectations of rate cuts later in the year.
A settlement with the National Association of Realtors could lead to changes in real estate broker commissions, potentially affecting homebuying costs.
Mortgage rates are not directly tied to the Federal Reserve's federal funds rate but are influenced by market perceptions of future economic conditions.