The Federal Reserve's monetary policy directly impacts mortgage interest rates. Currently, the Fed has raised interest rates multiple times, gradually increasing the federal funds rate to 5.25%. This move implies an increase in interbank lending costs, leading to an uptick in mortgage interest rates.

In the future, adjustments to the Federal Reserve's monetary policy will directly influence the trend of mortgage interest rates.

The level of inflation also has an important impact on mortgage interest rates. As inflation rates rise, the Federal Reserve may adopt a more aggressive monetary policy stance to counteract inflation.

Generally, mortgage interest rates are positively correlated with inflation rates, and an exacerbation of inflation could lead to an increase in mortgage interest rates.

Additionally, real estate market activity also significantly affects mortgage interest rates. It is expected that home sales will remain subdued in the near future, primarily due to the impact of rising rates and constraints on new home supply. This will have an impact on demand and interest rates in the mortgage market.

Furthermore, the GDP growth rate is a key indicator of economic health and will also affect the trend of mortgage interest rates.

In the coming quarters, it is expected that the GDP growth rate may face some pressure due to the impact of real estate market activity, which could influence mortgage demand and interest rate levels.