VIDEO UPDATE:

Interest Rates Hit 2 Month Lows, Here’s Your Weekly Mortgage Rate Update 🎉

TODAY’S MORTGAGE RATES

Mortgage interest rates improved about
.05% with the Mortgage Backed
Security (MBS) trading up +27 bps.
The average 30-year fixed conventional
rate in the country dropped below 7%
according to Mortgage News Daily.

Below are Mortgage News Daily’s
average interest rates across
the country.

Interest rates started the middle of
the week higher with the Consumer
Price Index (CPI) coming in hotter
than expected. Year over year
inflation rose from 2.9% to 3%.
Core Inflation (stripping out food
and energy) rose from 3.2% to
3.3%. This caused a selloff in the
MBS market and rates to rise.

On Thursday, The Producer Price
Index (PPI) which measures inflation
for producers also came in higher
than expected. Interest rates improved
despite the higher inflation number
as some of the components that
make up the PCE inflation report on
2/28 were much lower, signaling
that we could get a report that interest
rates like later in the month.

Yes, interest rates move heavily along
the lines of inflation and expected
future inflation.

On Friday, retail sales were much
lower than expected. This helped improve
interest rates greatly on Friday.

The report signals that Americans may
have finally exhausted their debt levels
to where it will be difficult to keep
spending. Lower spending brings down
demand and pricing. Lower inflation
helps interest rates.

There are a lot of characteristics that
go into a mortgage rate – credit score,
investor, loan to value, loan amount,
costs, etc. Please call me to go over
your specific scenario so we can
price your loan out accurately.

Or email me with the answers
to the questions below for Mortgage
Options for your scenario.

reggie@mygreenhomeloans.com

 

REFINANCE QUOTE:

Goal of Refinance – Lower Payment, Cash Out, Debt Consolidation:
Address of Home:
Estimated Value of Home:
Current Loan Amount:
Current Rate:
What Type of Loan Are You in Currently – FHA, VA, Conventional:
Estimated Credit Score:
Are You a Veteran or Active Member of the U.S. Military:
If You are a Veteran, Do you get VA Disability:

HOME PURCHASE QUOTE:

What City and State are You Looking to Purchase In:
Estimated Purchase Price:
Loan Amount You Would Like to Finance:
Will Property be a Primary Residence, Investment Property, or Vacation Home:
Estimated Credit Score:
Are You a Veteran or Active Member of the U.S. Military:
If You are a Veteran, Do you get VA Disability:

Thank you!

REFINANCE APPLICATIONS HIT
HIGHEST NUMBERS SINCE OCTOBER

Refinance applications are 33% higher
compared to the same week one year
ago and refinance applications have hit
the highest levels since October 2024.

The jump in refinance applications
should come as no surprise with
U.S. credit card debt hitting an
all-time high of 1.2 trillion. With
most credit card rates in the 20%’s,
consumers struggling with high
consumer debt should look at
what a refinance or HELOC could
do in lowering their overall
monthly expenses.

Interest rates secured by a home are
much lower than non-collateralized debt.

It’s not uncommon for a debt
consolidation to reduce a consumer’s
monthly expenses by hundreds or
even thousands of dollars per month.
The savings are actually higher when
realizing that most minimum monthly
credit card payments won’t pay down
the balance.

If you would like a free consultation on
what a debt consolidation would look
like for your situation, please give
me a call.

Have a great week!