VIDEO UPDATE:

The FED Keeps Rates the Same. Here is Your Weekly Mortgage Rate Update 📊

TODAY’S MORTGAGE RATES

Mortgage Interest Rates moved up
slightly on the week with the
Mortgage Backed Security (MBS)
Market trading down – 10 bps on
the week.

Below are Mortgage News Daily’s
Average Interest Rates across
the country.

The FED didn’t move the Federal
Funds Rate on Wednesday as
expected. Of more importance to
the market was the FED’s outlook
on future movements.

First, the FED will be purchasing
20 Billion more in Bonds per month
starting in April 2025. When the FED
purchases bonds, it helps mortgage
interest rates.

The FED’s outlook for the rest of
the year is as follows.

* 2 FED Rate Cuts
*Core PCE Inflation now expected
at 2.8% vs. 2.5%
*Unemployment Rate now expected
at 4.4% vs. 4.3%
*GDP now expected at 1.7% vs. 2.1%

The FED is expecting a slower
economy with less GDP and higher
unemployment. The FED is also
expecting inflation to go up in 2025.

When Economic Results are Lower,
Interest Rates typically improve.

On Friday, the PCE Inflation Report
will come out. Expectations are
that inflation could move higher which
is bad for interest rates.

No one is expecting the FED to
move rates this week, but the market
will likely react on their commentary
and what their likely moves are in
the future.

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 at reggie@mygreenhomeloans.com with the answers
to the questions below for Mortgage
Options for your scenario.

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!

WHAT TO EXPECT FROM
THE SPRING HOUSING MARKET

There Are More Homes for Sale

After a long stretch of tight inventory,
the number of homes for sale is finally
improving. According to recent national
data from Realtor.com, active listings are
up 27.5% compared to this time
last year.

Home Price Growth is Moderating

As inventory grows, the pace of
home price growth is slowing down –
and that will continue into the spring
market. This is because prices are
driven by supply and demand. When
there are more homes for sale,
buyers have more options, so there’s
less competition for each house.
Rising supply and less buyer
competition causes price growth to
slow, but it should still remain
positive in most markets.

Mortgage Rates are Stabilizing

One of the biggest hurdles for
buyers over the past couple years
has been high, volatile mortgage
rates. But there’s some good news –
overall, they’ve stabilized in recent
weeks – and have even declined a
bit since the beginning of this year.

More Buyers are Returning

With more inventory, slowing price growth,
and stabilizing mortgage rates, buyers
are gaining confidence and coming back
into the market. Demand is picking up,
and data from the Mortgage Banker’s
Association shows an increase in
mortgage applications compared
to the start of the year.

Have a great week!