economy
Should you lock in a mortgage rate before the April Fed meeting?
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TL;DR
- Mortgage rates have stabilized around 6.25% after rising significantly in March.
- Mortgage rates could increase due to Federal Reserve officials' post-meeting comments or lenders adjusting offers proactively.
- The next Federal Reserve meeting after April is not until June, meaning potential rate relief is delayed.
- Locking in a current rate might be beneficial, with the possibility of 'floating down' to a better rate before closing if rates decrease.
- Qualified borrowers facing volatility may find locking in a mortgage rate before the April Fed meeting to be a strategic choice.