While mortgage rates don’t exactly depend on the Fed’s rate decisions, the Fed does have a big influence on the direction they take. And until issues with persistent inflation show more signs of easing, mortgage rates might not drop much.

Despite their recent communications regarding future rate cuts, expecting a substantial drop in mortgage rates in the short term might be overly optimistic. I’m inclined to think it’s unlikely, especially with the Federal Reserve maintaining its ‘hold and observe’ strategy.

That said, mortgage rates could start to fall toward the end of the spring, given the Fed’s meeting schedule. The Fed isn’t expected to cut rates during their May meeting, which means any real drop-in interest rates would not happen until late spring/early summer at the earliest.

Feel free to call me at 503-7013-4699 or email me at sbfreedom@gmail.com if you have any questions and we can run some numbers.