Mortgage Rate Predictions: Are Tariffs Affecting Spring Homebuying?

President Donald Trump's announcement last week of an aggressive wave of reciprocal tariffs on multiple countries and a 10% universal import tax triggered massive stock market chaos. The move also escalated fears of inflated consumer prices, a global trade war and a recession. It's unclear how these duties will upend supply chains and affect interest rates. Given the vast number of unknowns in the economy — from Trump's protectionist measures to federal jobs slashing — mortgage rates have already seen some dips. On Friday, the average rate for a 30-year fixed mortgage dropped to 6.65%, the lowest in months. Throughout March, rates for 30-year fixed home loans fluctuated in a narrow range, beginning and ending the month at 6.75%, according to Bankrate data. "The keyword right now is uncertainty... Mortgage rates are in a holding pattern of sorts." Colin Robertson, founder of mortgage news site The Truth About Mortgage As financial markets brace for more conclusive insights into infl ... Read full article.