Mortgage Rate Forecast for April: Tariffs, Recession Risks and the Fed

Tharon Green/CNET President Trump's tariff proposals have caused a dizzying ride in the mortgage market, with the average rate on a 30-year fixed mortgage slingshotting between 6.5% and 7% in recent weeks. Housing experts say mortgage rates could maintain that range for a while, but there are too many wildcards to predict their long-term direction. The economy could be heading toward a recession, or it might just keep chugging along. Inflation could come roaring back, or it might not. Sweeping tariffs could be imposed on a broad range of trading partners or postponed indefinitely. "The fact that [President Trump] has been very impulsive with his statements and his actions, especially creating this major trade war with China, has made mortgage rates somewhat directionless," said Melissa Cohn, regional vice president at William Raveis Mortgage. Since tariffs are still being negotiated, there's no way to know the exact outcome in the financial markets. The situation creates a dilemma ... Read full article.