Mortgage interest rates have been VERY volatile with all the movement in the stock market. Typically, when the stock market is plummeting, we see mortgage rates improve. This is because mortgage rates are based on bonds and investors will seek the safety of bonds. In the markets we recently have been experiencing, the lower mortgage rates may be available for moments before moving higher.
If you’re considering refinancing to obtain a lower interest rate, you need to be prepared to take action.
I recommend starting with having a conversation with your mortgage professional to determine what your refinancing goals are, including reviewing how long you plan on staying in your home and the amount of time it will take to “break even” on the refinance.
If you’re highly motivated, you may want to start an application so that it’s much easier to lock your rate, should it become available. This also allows us to review your credit to see if there are any actions you can take to improve your score (if needed) to help make sure you receive the best rate possible.
Last but not least, you can sign up for my rate watch program and my team and I will notify you when mortgage rates appear to be within your target range to refinance.
If you’re considering refinancing or buying a home, I’m always happy to help!
25 years ago, I left my career in the title and escrow career to become a mortgage loan officer. I announced it on April fools day to the real estate agents that I was no longer going to be their title rep and that I was making the move to the mortgage side. Many were shocked as I had been in the title industry for 14 years and was pretty established. It was a big move! 
FHA issued an update to their guidelines (ML 2025-09) revising residency requirements for FHA mortgages. The new guidelines only allows U.S. citizens and lawful permanent residents and removes non-permanent residents from being eligible.
I am taking a quick vacation to visit my son and family in Japan. I will be back to work as fresh as a cherry blossom on April 8, 2025. (Update: I’m back from vacation!)
As expected, the Fed has decided to leave the Fed funds rate unchanged, leaving the targeted range between 4.25% and 4.5%. This rate does not directly affect mortgage interest rates, but rather influences the direction of mortgage interest rates (unless you have a home equity line of credit that is based on the prime rate).
Recent Comments