Mortgage rates got a little bumpy this week, heres what actually happened. 👇 shorts [3FxhvXk3oAC]
Mortgage rates got a little bumpy this week, here's what actually happened. 👇 The Fed met and held its benchmark rate steady for the fifth time this year. On the surface, that sounds like good news for mortgage rates. But the details mattered more than the decision: three members voted to raise rates. That split told the market a hike is still on the table for the next meeting in September, and whenever hike odds go up, Treasury yields and mortgage rates follow. The upside? Rates have actually come down from the 1-year high we hit just a few weeks ago. The average 30-year fixed is sitting around 6.55% right now, even a touch lower than this time last year. The thing to watch is the Middle East conflict and its ripple effect on oil, inflation, and the bond market. Until that settles, expect rates to stay elevated and choppy, not a clean drop. Here's the part most buyers miss: you have leverage right now. In a slower market, sellers are often willing to cover part of your closing costs or fund a rate buydown to lower your payment for the first few years. That can matter more to your monthly number than waiting around for the "perfect" rate. If you're buying or refinancing, let's run your actual numbers. DM us or comment "RATE." 📊 Clavis Capital Group · NMLS #2343894 · Equal Housing Opportunity #MortgageRates #HomeBuying #HousingMarket #FirstTimeHomeBuyer #DSCR