Video
April 25, 2025
Airs live on YouTube
April 25, 2025
Rates Are Calm... For Now. A Major Week Lies Ahead
Market Update
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Mortgage rates stayed steady this week, holding just under 7%.
It might feel quiet right now, but next week could be a different story.
Several big economic reports are coming: jobs numbers, first quarter GDP estimates, and new inflation data. Early signs suggest the economy may be slowing, and even small trends like falling potato chip sales show that consumers are pulling back.
If growth cools and the economy slows down, rates could continue to drift lower. Inflation numbers may not show the full picture yet because they will not reflect the impact of new tariffs. Still, a slow and steady decline in rates is better for long-term stability.
For now, being in the high 6% range is a big win compared to the 7%+ plus rates we have seen.
There are real opportunities out there right now. Some sellers are offering tens of thousands of dollars in closing cost credits to get their homes sold. While some homes are still getting multiple offers, many are sitting longer, and that means more negotiating power for smart buyers.
If you are thinking about buying, now might be your window before the market shifts again.
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The information contained is the viewpoint of the presenter(s). Individuals should consult their own financial representative.
Estimated Mortgage Payment is for exemplary purposes only. Contact a licensed loan officer for exact numbers and APR. Additional rates and terms may apply and are subject to change without notice. Loan scenario assumes a purchase price of Zillow's list price and a 10% down payment. Points and fees not included. Property tax, homeowners insurance, mortgage insurance, and HOA fees are approximate and may vary. Other fees may apply. Product displayed is a conventional 30-year fixed rate mortgage using the current average rate as shown on Mortgage News Daily (mortgagenewsdaily.com).
Estimated Qualifying Income assumes a homebuyer has a FICO score above 740, no other credit debt, and a debt-to-income (DTI) ratio of 43%.
For exact numbers and APR or to run a loan scenario based on your own credit and income, contact our office at (858) 259-8700.
Rate Source: Mortgage News Daily. Rates displayed are approximate, subject to change, and do not necessarily reflect rates available to you. MND’s methods involve an objective component based on lenders' raw prices as well as a subjective impression from their network of originators. For more information about how these rates are calculated, visit www.mortgagenewsdaily.com/mortgage-rates/about.
Mortgage News Daily (MND) is a trademark of Brown House Media, Inc. Zillow is a trademark of Zillow, Inc. CrossCountry Mortgage has not been authorized, sponsored, or otherwise approved by Brown House Media, Inc. or Zillow, Inc.
Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Call (858) 259-8700 for details. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program. CrossCountry Mortgage, LLC is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the federal government. CrossCountry Mortgage, LLC is not affiliated with or acting on behalf of or at the direction of the Veteran Affairs Office or any government agency. Certificate of Eligibility required for VA loans. By refinancing, the existing loan total finance charges may be higher over the life of the loan.
