05/21/2026
Hey, it's Blaine and Whit with the Rolstad Team at Canopy Mortgage, and we have been getting a lot of questions this week about the new Fed chair. Does Kevin Warsh taking over mean mortgage rates are finally going to drop?
Not necessarily, and this is where the headlines get a little confusing. The Federal Reserve does influence interest rates but not directly the mortgage rates most people are watching. Mortgage rates are actually tied to the bond market, inflation, and what investors think is coming next. So even with new leadership at the Fed, one person cannot walk in and suddenly change mortgage rates overnight. There is still an entire committee making decisions and inflation is still higher than where they would like it to be, which means we will likely continue seeing patience before any major shifts happen.
Here is the part worth remembering. Waiting for the perfect rate can sometimes cost people more than the rate itself. Every situation is different and monthly payment, timing, goals, and down payment all matter in ways that are unique to each person.
If you are wondering whether now makes sense to buy, refinance, or just start making a plan, we are always happy to walk you through it with no pressure and real information. Give us a call at 509-869-4359.
