Episode Details

The Strait of Hormuz is reopening, sending oil prices down and mortgage rates lower—good news for homebuyers after a rough stretch. Though rates are easing from 6.5%, they’re not plummeting, and spring’s strong sales are meeting a shrinking inventory. Hope is rising with renewed U.S.-Iran talks, which could further boost confidence and housing activity this summer—but the path isn’t smooth. Meanwhile, new Fed Chair Kevin Warsh is dialing back forward guidance, potentially slowing rate drops. Inflation data briefly pushed rates up, cooling applications, but optimism from the Middle East is pulling them back down. It’s a mixed picture, but the trend’s pointing toward improvement.

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