The Federal Reserve has put interest rate cuts on hold until it has more clarity about President Trump’s policies.

The 30-year fixed-rate mortgage (FRM) averaged 6.89% as of May 29, 2025, up from last week when it averaged 6.86%. According to the Freddie Mac survey, at this time last year, the 30-year fixed-rate mortgage averaged 7.03%.

Specifically, Nvidia ( NVDA 3.07%) will announce its first-quarter financial results after the market closes on Wednesday, May 28, and the Federal Reserve will publish the minutes from its May meeting earlier that same day. Then the Commerce Department will release PCE inflation and consumer spending data for April on Friday, May 30.

Mortgage rates could keep going up in June as all types of interest rates climb. House prices in most of the country continue to rise, but more slowly.

Federal Reserve officials said Wednesday that inflation has fallen further toward their target level in recent months but signaled that they expect to cut their benchmark interest rate just once ...

Federal Reserve staff now view a recession as “almost as likely” as their baseline forecast, according to minutes from the central bank’s May meeting, released Wednesday, highlighting the challenges current trade policy poses for the bank.

After a surprise court ruling blocked President Trump's tariffs, a federal appeals court allowed them to continue.

Although lower than expected figure for April is welcome, the central bank will still wait for more certainty before easing