Why Won't Mortgage Rates Drop? | May 2026 Update

I walk through the current rate stack from Mortgage News Daily — 30-year fixed at 6.44%, FHA at 5.92%, VA at 5.94%, and how April played out week by week. On a $900K San Diego home with 20% down, today's rate puts your payment at $4,522/month — I show exactly what a quarter-point swing means in real dollars. Then I break down the FOMC's 8-to-4 vote on April 29th — the most divided the committee has been since 1992 — and what it means that Jerome Powell's term ends May 15th with Kevin Warsh stepping in. I close with the jobs market: March added 178,000 jobs against a 59,000 forecast, and a Fed that sees a healthy economy has no urgency to cut. The April jobs report drops May 8th — I tell you exactly what to watch for. 📝 My Preferred Lender, Matt Kish Movement Mortgage 📱 909-434-7091 📨 [email protected] Want to CONNECT with me Direclty? 📱 Call or Text: 619-829-2908 📨 Email: [email protected] 📅 Scheduler: https://bit.ly/SchedulewithKarl 💵 Looking for a High Yield Savings Account? Here is the one I use. My affiliate link: https://ally.com/referral?code=7Z7S2B... 💵Do you pay rent? Here is how you can HACK your rent payments for future rent credits or travel/vacations. It's call the BILT reward credit Card. Check out my affiliate link at: https://bilt.page/r/IQVI-PK5I Let's connect on social! Tik Tok: ➡︎ / KarlSanDiego IG: ➡︎ / KarlKyler YT: ➡︎ @KARLisMyRealtor As always, Karl Kyler Your San Diego Realtor DRE 01439839 Exp Realty of Southern Califorina Inc #KarlSanDiego #SanDiegoRealEstate #MortgageRates2026