NerdWallet
Mortgage rates might pogo up and down in May. By the end of the month, they could rise due to tariff-related inflation or fall in response to a tariff-induced economic slowdown.
Keep in mind that we're in exceptionally unpredictable times.
No one knows for sure what will happen to the economy or when. If there's one thing we can feel confident about, it's that the Federal Reserve almost surely will leave short-term rates alone at its May 7 meeting.
Even the most determined buyers could struggle with affordability if mortgage rates go up. Lawrence Yun, chief economist for the National Association of REALTORS®, noted that inventories of unsold homes are growing. "I thought that more inventory would lead to more sales. But that's not the case," he said. He blames higher mortgage rates for restricting home sales.