The 30-year average follows swings above 6.3% in late March and near 6% in mid-April, with no Federal Reserve meeting scheduled before June.
Markets are watching the May 12 CPI report, Middle East tensions affecting oil prices, softer economic data and comments from Fed officials for clues on whether rates could fall.
The article says borrowers should not assume rates will stay fixed this month, because bond yields and mortgage pricing can still shift quickly without formal Fed action.
With mortgage rates stuck near 6.4%, what unexpected event could trigger a sudden drop—and how should buyers and investors prepare?
Could current forecasts be underestimating the risk of higher-for-longer mortgage rates, and what would that mean for future home affordability?
How might persistent conflict in the Middle East reshape the US housing market and mortgage rates in ways experts haven't yet considered?