Video
October 17, 2025
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October 17, 2025
Rates Dip Again and Opportunities Are Opening Up
Market Update
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Mortgage rates are dipping again, now at 6.23% for conventional loans and 5.99% for FHA. That puts the market near one-year lows and just shy of breaking below 6% for the first time since 2022.
Even with the government shutdown, the market continues to show signs of cooling. Job growth has slowed, inflation is steady, and investors expect the Federal Reserve to maintain its current stance later this month. As those trends continue, mortgage rates are easing in response.
For homebuyers, this creates real opportunity. Sellers are still offering strong incentives such as 2-1 buydowns and closing cost credits that can make homeownership more affordable. One recent FHA buyer locked in a 5.125% rate with $16,500 in seller-paid costs on a $275,000 purchase. These kinds of deals will fade as rates fall and buyer competition increases.
More than half of all mortgage applications are from first-time buyers, yet they represent less than 25% of actual purchases. As rates drop and affordability improves, more of those buyers will reenter the market. Acting now can help you take advantage of today’s rates and seller incentives before demand picks up.
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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.
