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05.01.23 Mortgage Rates Update

May Mortgage rates

On Monday, Nerdwallet released the average mortgage rates in the country.

Line Chart showing the weekly Average Interest Rates for 30-Year, 15-year, & 5-Year Mortgages for 2023
Table showing Average Interest Rates for 30-Year, 15-year, & 5-Year Mortgages for 2023
Table showing Average Interest Rates for 30-Year, 15-year, & 5-Year Mortgages for 2023

Week to week there were small movements in interest rates. We’re keeping a close eye on what rates are going to do after the Federal Reserve’s meeting on the 2nd & 3rd of May, especially after JPMorgan’s takeover of First Republic bank.

What do we see in the New Orleans Market? Check out our Monthly New Orleans Market Review, which comes out the second Thursday of the month! Read the March Snapshot now! 

If you have any questions about strategizing whether to buy now or later, please feel free to contact our team of Real Estate Advisors. We can help you make the wisest decision for you!

Questions? Reach out to one of our advisors for a chat! 

Link to full Nerdwallet article: https://www.nerdwallet.com/article/mortgages/mortgage-interest-rates-forecast

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