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Mortgage Rates Move Lower as Economic Outlook Worsens
The decline reflects weakening economic and inflation expectations, with rates still above 6% and more than 60 basis points below a year ago.
- The average rate on a 30-year fixed-rate mortgage fell to 6.25% APR in the week ending April 9, according to data provided to NerdWallet by Zillow.
- While mortgage rates are easing, the decline reflects a weakening economic outlook rather than optimism, as markets react to inflation risks and throttled shipping through the Strait of Hormuz.
- The Federal Reserve targets 2% inflation, yet core PCE hit 3% in February; additionally, Fed governors shifted inflation predictions for 2026 higher.
- Lisa Sturtevant, chief economist for Bright MLS, noted a "historic rise in inventory which should be a catalyst for sales," though buyers require more policy stability.
- Jeff DerGurahian, chief investment officer at LoanDepot, said markets now view the Middle East conflict and higher oil prices as a longer-term growth story, reshaping economic expectations.
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InsideNoVA.com+25 Reposted by 25 other sources
Mortgage Rates Move Lower as Economic Outlook Worsens
Mortgage interest rates improved slightly this week, though that's not much comfort given the state of the world. In truth, it's actually a sign of how negative the economic outlook's becoming.The average rate on a 30-year fixed-rate mortgage fell to…
Coverage Details
Total News Sources27
Leaning Left4Leaning Right4Center6Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 28%
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