{"id":79775,"date":"2025-05-07T13:28:57","date_gmt":"2025-05-07T20:28:57","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=79775"},"modified":"2025-05-07T13:28:57","modified_gmt":"2025-05-07T20:28:57","slug":"mortgage-rates-fed-meeting-may","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/mortgage-rates-fed-meeting-may\/","title":{"rendered":"Mortgage Rates to Hold Firm as Fed Continues \u2018Wait-and-See\u2019 Approach"},"content":{"rendered":"

Mortgage rates will stay largely unchanged after the Fed held rates steady at its <\/span><\/i>May meeting<\/span><\/i><\/a>, opting to remain in a noncommittal \u201cwait-and-see\u201d mode until more information is known about the state of the U.S. economy.<\/span><\/i><\/p>\n

The Fed kept the Federal Funds rate <\/b>unchanged<\/b><\/a>, as expected, and signaled no action on rates until there is \u201cfurther clarity\u201d on trade policy.<\/b> Chair Powell\u2019s press conference message was fairly simple: The Fed is in no hurry to do anything. He emphasized the high level of uncertainty associated with the tariffs themselves and their economic effect, saying \u201crisks have risen, but they haven\u2019t materialized yet.\u201d Bond markets had been expecting a cut at the June Fed meeting\u2014until last Friday\u2019s strong <\/span>jobs report<\/span><\/a>. Since then, rates have risen slightly as investors pushed expectations for a cut back to the July Fed meeting. Today\u2019s meeting did not include an update to the Fed\u2019s forecast for interest rates, as it is only updated every other meeting. If it did, however, the forecast would probably show fewer 2025 rate cuts than the three that bond market investors are currently expecting.<\/span><\/p>\n

Looking ahead, with the dual risk of higher inflation and unemployment putting the Fed in a bind, it is difficult to imagine any relief for mortgage rates without a fairly severe recession. <\/b>The Fed\u2019s mandate is to keep both inflation and unemployment low, but the economic risks that high tariffs pose threaten both sides of that mandate. As Chair Powell said: \u201cIf inflation is rising while unemployment is going up, which isn\u2019t a choice we currently face, this would be a complicated and challenging judgment that we\u2019d have to make.\u201d Recent experience suggests that unless the Fed is very confident that the inflation risks are temporary and\/or the recession risks become outsized, the Fed will choose to fight inflation by keeping rates high, rather than boost employment by bringing rates down.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Mortgage rates will stay largely unchanged after the Fed held rates steady at its May meeting, opting to remain in a noncommittal \u201cwait-and-see\u201d mode until more information is known about the state of the U.S. economy. The Fed kept the Federal Funds rate unchanged, as expected, and signaled no action on rates until there is […]<\/p>\n","protected":false},"author":13558,"featured_media":79779,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[632],"tags":[36,722],"dashboard":[],"coauthors":[622],"class_list":["post-79775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-from-our-economists","tag-economics","tag-nation"],"acf":[],"yoast_head":"\nMortgage Rates to Hold Firm as Fed Continues \u2018Wait-and-See\u2019 Approach - 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