Where are Mortgage Rates Going in Spring of 2023?

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There's a little bit of volatility in the US economy right now, particularly if we're looking at banking and mortgage rates. The first thing that's going on is we do have a couple of banks out in California who are now receiving quite a bit of support from the Federal Government. And the second impact on the housing market is that the Federal Reserve did come out yesterday and they are choosing to prioritize controlling inflation over focusing on a potential banking issue. And they continue to increase interest rates.

Now, we know that the Federal Reserve does not set mortgage rates, however, their actions can impact mortgage rates. So let's have a quick chat about how these two factors are impacting mortgage rates today ...