New Fed Chair, Old Mortgage Trick
Boring Mortgage News
New Fed Chair
The DOJ dropped its charges against Jerome Powell, which reopened the appointment of a new Fed Chair, Kevin Warsh. Warsh will follow the last Trump-nominated Fed Chair, Jerome Powell, to lead the gas/brake pedal of the US Economy. Warsh has been quoted to quickly implement significant changes on how the central bank measures inflation, among other things.
Old Trick
As a *gentle reminder*, the fed rate generally affects short-term interest rates. If a cut comes too soon and inflation fears run rampant, mortgage rates will go up.
Less Boring Mortgage News
As Mrs. Miller and I celebrate building the “Simple Garden Cages”, I noticed the average for the 30-year fixed rate is now firmly in the mid 6% range, with a downward trend towards lower waters.
Keep in mind that this is a national average, and can change a bunch based on down payment, credit, property type, occupancy type, and program type. If you want to dive deeper, holler at me.
Source: HousingWire & Mortgage News Daily. This is not a commitment to lend and does not guarantee the availability of any particular product or interest rate. Rates/terms illustrated may not be available through BankSouth Mortgage.
Blog post date: April 27, 2026
