05/05/2026
Rates have been hanging around the same spot lately, and that’s usually when people start thinking nothing’s really going on.
That’s not how this market works.
The Fed held rates steady again on April 29 at 3.5% to 3.75% and said higher energy prices and Middle East developments are adding more uncertainty. At the same time, Freddie Mac’s latest weekly average for a 30 year fixed was 6.30%, which is still better than the 6.76% we were seeing a year ago.
Oil has also been moving around fast. Reuters reported Brent went above $126 on April 30 before pulling back, and that matters because when energy pushes inflation concerns higher, the bond market reacts, and mortgage rates usually follow.
So no, I would not look at this market and assume it’s just sitting still.
I’d look at it like this. Rates are still in a better spot than they were last year, but this can change fast. Best thing you can do is know your numbers and be ready.
