Mortgage rates are likely to remain relatively stable in May. There's no doubt that we'll have daily ups-and-downs, but a major dive is unlikely to happen. (My apologies to anyone hoping 5% rates would be back on the table anytime soon.)
On the plus side, we're unlikely to see a spike unless there are major negative developments in Iran. While the ceasefire has kept a lid on that conflict for a while, renewed aggression could alarm markets and push up mortgage rates. Unfortunately, we can't count out that possibility.
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