Mortgage Rates Hold Steady, Fed Unlikely to Cut
Fort Wayne News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Mortgage rates remain elevated, with the average thirty-year fixed rate at 6.37%, near the six-point-five percent mark not seen since September 2022. The Federal Reserve is unlikely to lower borrowing costs, focusing on inflation rather than job concerns. Despite a surprise addition of 178,000 jobs in March, growth is narrow and concentrated in specific sectors. Oil price fluctuations and the absence of Fed cuts suggest mortgage rates will stay high, but borrowers with strong credit and low debt can secure better deals, preparing for refinancing opportunities when rates decrease.
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