Portland Mortgage Market Update — April 18, 2025

A return to normal? Kind of! As more information about and exceptions to the tariffs came out, the market seemed to breath a bit more and relax. Rates are now trading in a more specified range that, although higher is more reminiscent of the pre-"liberation day" times. We aren't seeing the wild whipsaws (like the lowest rates in 6 months on April 4th jumping to the highest rates in 4 months on April 11th) as the market seems to be waiting and watching for guidance or events that could show a path forward.

The Fed did its best this week to provide a framework for that guidance too. We had a few members speak to the public this week and the general tone was "inflation is more of a focus than unemployment" and "we will have to wait and see". They believe the inflation that will rise due to the tariffs should be transitory but as with all things Fed, will wait and see what that data says before discussing any potential rate cuts. The market is still betting on rates staying the same at the next meeting and an 80% chance we see at least one cut by the July meeting

No more news today as the market is closed for Good Friday. I hope you have a great Easter Weekend and if anything pops up I am available!