"Uncertainty about the tariffs and the volatility in the stock market could lead to a slowing economy, or even a recession, which should help get inflation lower and bring rates down," said Gregory Heym, chief economist at Brown Harris Stevens. The direction of mortgage rates ultimately depends on the economic impact of policies enacted by the administration and the projected pace of the Fed's interest rate cuts. Prospective homebuyers waiting for mortgage rates to drop may have to adjust to the "higher for longer" rate environment, with mortgage loan rates fluctuating between 5% and 7% over the longer term.
Author: Katherine Watt
Published at: 2025-04-21 22:41:32
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