What’s Moving Markets This Week
The ongoing conflict with Iran continues to drive volatility across financial markets. We’re seeing a seesaw effect — markets improve as tensions appear to ease, then pull back sharply when threats or attacks escalate.
The Iranian Parliament Speaker stated this week that they would move against purchasers and holders of US Treasuries, tying those assets to the cost of the conflict. As of Monday afternoon, the Dow is surging on reports that the US and Iran have had productive talks — but the situation remains fluid and bears close watching.
Where Are Mortgage Rates?
Rates have been trending higher since early March, largely driven by the Iran conflict and its impact on global inflation expectations. A few important reminders:
- You cannot lock in last Friday’s rate today
- Your credit score, loan-to-value ratio, and other factors affect what rate you personally qualify for
- This index is meant to show you the direction of rates, not quote you a specific rate
- Get current mortgage rates based on your personal scenario.
Mortgage-Backed Securities (MBS) Update
Mortgage rates are based on mortgage-backed securities (MBS) — and last Friday, MBS took a significant hit.
The European Central Bank and the Bank of England both signaled they are prepared to raise rates next month if the Iran conflict pushes inflation too high. That news sent MBS sharply lower — the big red candlestick on the MBS Highway chart tells the story.
Spotlight: Mortgage Options for Manufactured Homes
This week’s spotlight is on mortgages for manufactured homes — a topic that comes up more and more as buyers look for affordable housing options, including accessory dwelling units (ADUs).
Whether you’re purchasing a manufactured home on its own land, refinancing one you already own, or considering adding one to your property as an ADU, there are more financing options available than most people realize.
| Loan Type | Min. Down Payment | Min. Credit Score | Mortgage Insurance | Key Notes |
|---|---|---|---|---|
| FHA (Title II) | 3.5% (10% if score 500–579) |
580 (500 minimum w/ 10% down) |
Required | Most flexible credit guidelines; home must be real property; 400 sq ft minimum |
| VA | 5%* | No official minimum (~620 lender overlay) |
Not required | Eligible veterans & active-duty only; home must be on land you own; engineer foundation cert. required |
| USDA | 0% | 640 (practical minimum) |
Required (guarantee fee) |
Rural areas only; income limits apply (≤115% area median); home must be new |
| Conventional | 5% (3% with MH Advantage†) |
620–640 (700+ for best rates) |
Required under 20% | Real property only; stricter appraisal standards; MH Advantage requires specific design criteria |
One important note: For most of these programs, the manufactured home must be on land you own and titled as real property — not located in a rental park.
I’ve updated my complete guide to manufactured home mortgages for properties in Washington state.
Ready to Talk Through Your Options?
Whether you’re buying, refinancing, or just starting to explore what’s possible, I’d love to help. Let’s talk!
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