Why mortgage rates aren't coming down anytime soon

Plus: Suing Dr. ChatGPT ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

US Edition - Today's top story: US mortgage rates are staying high – and the Fed can do very little about it View in browser   US Edition | 5 June 2026 Top headlines Americans who want to root against the US at the World Cup The ancient virtue of ‘sophrosyne’ is sorely lacking in today’s world Take our quiz to see how much news you soaked up this week Lead story For Americans looking either to buy a home or refinance a pricey mortgage, patience is probably wearing thin. After spiking in 2022 and 2023, mortgage rates have stayed well above the rock-bottom levels of the pandemic. And they have barely budged even after the Federal Reserve trimmed its benchmark cost of borrowing in 2024 and 2025. High mortgage rates are one reason President Donald Trump has been pressuring the Fed to cut further. But as finance professor Michael J. Highfield explains, the central bank actually has little control over the cost of home loans – and Americans may be stuck with high rates for a long time. There are several factors in play. Markets expect inflation to stay elevated, while U.S. government debt has exploded in recent years. Both mean that it’s more expensive for investors to hold on to that debt. In the end, mortgage rates are largely determined by “millions of investors making judgments about the future,” Highfield writes. “And at the moment, those investors remain cautious.” [How faith and religion drive the world. Sign up for our weekly newsletter, This Week in Religion.] Helen Fessenden Senior Economy and Business Editor Even though the Fed cut interest rates in 2024 and 2025, mortgage rates have stayed high, frustrating many would-be homebuyers. AP Photo/Jenny Kane US mortgage rates are staying high – and the Fed can do very little about it Michael J. Highfield, Mississippi College; Mississippi State University Investors’ inflation expectations, much more than the central bank, are among the factors that affect the cost of home loans. 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Trending on site Why Mary, as the Immaculate Conception, became the patron saint of the US in the 1840s When private equity firms buy mobile home parks, rent increases leave residents with few affordable options in rural areas A lot of ‘recycled’ plastic is being burned overseas – and causing widespread pollution linked to health problems The Conversation News Quiz 🧠 The Conversation U.S. weekly news quiz Fritz Holznagel, The Conversation Here’s the first question of this week's edition: During a test of its New Glenn booster at Cape Canaveral on May 28, a rocket built by Jeff Bezos' company Blue Origin did what? A. Veered off course and crashed into Jeff Bezos' yacht B. Landed safely after a 5-mile flight C. Failed to ignite D. Exploded in a giant fireball Test your knowledge More of The Conversation Like this newsletter? 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