March 20th, 2026 11:46 AM by T. Fanning
Happy Summer…err, happy Spring…I think?
Mortgage rates jumped this week, mainly due to rising oil prices. As expected, the Fed held rates steady and is still trying to balance high inflation with a slowing job market. Fed Chair Jerome Powell said the conflict in the Middle East adds uncertainty, and it’s too early to know its impact on the U.S. economy. Higher oil prices make things tougher by pushing inflation up and weighing on jobs. Overall, the Fed meeting didn’t bring any big surprises, and slightly higher inflation had little effect on rates. The Fed still expects just one small rate cut this year and another in 2027.
There’s nothing important scheduled for Monday, so the market will likely react to news about Iran and changes in oil and energy prices. It’s hard to predict what bond markets and mortgage rates will do during times like this, but with not much else going on, headlines will probably drive most of the movement. Unless Fed officials say something unexpected, those news updates will likely push mortgage rates up or down throughout the week.
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