Mortgage Rates Steady as Fed Maintains Policy

Mortgage rates have remained steady this week, with the average 30-year fixed rate ranging from 6.70% to 6.83% and the 15-year fixed rate between 5.89% and 6.01%, based on data from Freddie Mac and Zillow. This stability follows the Federal Reserve's decision to pause rate cuts for the third consecutive time, maintaining the target federal funds rate at 4.25%-4.50% amid persistent economic uncertainties including inflation, tariffs, and employment goals. Slight declines in mortgage rates occurred after favorable bond market movements and a strong 10-year Treasury auction, though experts note that future rate changes will depend on inflation data and Fed policy. Homebuyers may benefit from stable rates and increased spring inventory, but significant decreases in rates are unlikely in the near term. Financial advisors recommend locking in a rate when comfortable, given the potential for economic data and trade policy to influence rates. Individual borrower qualifications, loan terms, and broader economic trends also affect mortgage rates.