Mortgage Market Update – What You Need to Know
As we move into Spring of 2025, the mortgage market continues to shift, creating new opportunities for homebuyers and homeowners alike. Whether you’re considering purchasing a new home, refinancing, or leveraging your home equity, staying informed is key.
Current Market Snapshot:
- Interest Rates: Mortgage rates have been stabilizing in response to recent economic conditions, inflation trends, and Federal Reserve policies. Currently, the average 30-year fixed mortgage rate is around 6.625% (according to a Freddie Mac survey). If you’re considering locking in a rate, now could be a good time to explore your options.
- Home Values: The spring market is here. Housing inventory generally increases, meaning buyers have more choices. In some markets, price reductions are becoming more common, offering potential opportunities for those ready to buy.
Lending Landscape:
- First-time homebuyers: Government-backed loans (FHA, VA) continue to provide accessible options with lower down payments.
- Homeowners: Cash-Out Refinancing and HELOCs (Home Equity Lines of Credit) are popular options for those looking to leverage their home equity for renovations, debt consolidation, or investment opportunities.
- Self-employed borrowers & investors: Alternative loan programs, such as bank statement loans and DSCR (Debt Service Coverage Ratio) loans, are helping entrepreneurs and real estate investors secure financing based on cash flow rather than traditional income verification.
By staying ahead of these market shifts, you can make informed decisions about homeownership, refinancing, or investment opportunities. If you’d like to discuss how these changes impact you personally, let’s connect!
Let’s Discuss Your Options:
Every situation is unique. Whether you’re ready to move forward or just have questions, we are here to help you navigate the best path forward.
