Following the Federal Reserve’s May meeting, Chairman Jerome Powell announced that interest rates will remain unchanged — a decision that comes despite pressure from some political circles, including President Trump, who had publicly pushed for rate cuts.

As of Wednesday, the average 30-year fixed mortgage rate held at 6.86%, according to Mortgage News Daily. While rates dipped slightly on the same day, this movement was more a reaction to broader market news than the Fed’s official stance.

What Buyers and Sellers in the Triangle Need to Know

If you're planning to buy or sell a home in Raleigh, Durham, Chapel Hill, or surrounding areas, here’s what this update means for you:

• Buyers: Mortgage rates are still hovering near 7%, which affects your monthly payment and overall affordability. Locking in a rate now might be smart if you're serious about purchasing this spring or summer.

• Sellers: While rates may seem high, buyer activity remains strong in many price points across the Triangle, especially in well-marketed and properly priced homes. The key is making your home stand out with strategic marketing, staging, and pricing — something I specialize in.

When Will the Fed Move?

The next Federal Reserve meeting is scheduled for June 17–18, and all eyes will be on inflation data and economic indicators leading up to that date. If the economy shows signs of cooling, a rate cut later this year is still on the table — but it's not guaranteed.

Let’s Talk Strategy

📩 Whether you’re thinking about moving soon or just trying to make sense of today’s housing market, I'm here to help. Email me here if you'd like a personalized game plan or a connection to a trusted local mortgage advisor help.

Thanks for reading!

Brandon Yopp