Joshua Smith - NMLS #274855

Joshua Smith - NMLS #274855 Broker Owner
NMLS 274855
Apex Funding
NMLS 2486773
2591 Dallas Pkwy
Suite 300
Frisco, TX 75034

Personal NMLS 274855, Company NMLS 2486773, OK MLO07391, FL LO129520, CO 100537860

Good morning! Here is your Weekly Market Update. Rates continue to tread water. Keep in mind, in this market, there are ...
06/02/2026

Good morning! Here is your Weekly Market Update. Rates continue to tread water.

Keep in mind, in this market, there are quite a few things we can do to help the client. We all know about the 2/1 buydown, but we also have a 1/0, 1/1, and a 3/2/1. We have ARM's that sometimes have lower rates. We have 100% FHA options. We have physicians' loans. We help the client shop for their insurance. We apply their homestead exemption to their initial payment, even though they have not even had a chance to apply yet.

We also do a 30-minute Zoom call at prequalification. This allows us to find the pressure points and which of these options will be best for them. In a market where affordability is the biggest challenge, we have options.

As always, please let me know how I can help you!

Good afternoon! Here is your Weekly Market Update. Rates are mostly unchanged as we wait for the resolution to world eve...
05/26/2026

Good afternoon! Here is your Weekly Market Update. Rates are mostly unchanged as we wait for the resolution to world events.

However, keep in mind that what I show below are average rates after discount points are paid. Our rates are not "average".

I locked a 30-year fixed Jumbo last week at 5.75%, and that was with $0 lender fees.

As always, please let me know how I can help you!

Good afternoon! Here is your Weekly Market Update. Good news/bad news sort of thing. Bad news is rates are not doing so ...
05/18/2026

Good afternoon! Here is your Weekly Market Update.

Good news/bad news sort of thing. Bad news is rates are not doing so hot. The good news is that it is almost entirely due to inflation, which in turn is almost entirely due to gas prices. As we know, if we can get out of this conflict in Iran, gas prices should immediately go down.

Also, keep in mind the buydown products. They are a huge help in this market. We are currently offering a free 1-0 buydown for *most buyers that lock before June 30th. We can get seller concessions on most homes right now, and the biggest bang for the buck for the consumer is a buydown. Also, let's say you do a buydown for the first two years, you get a refund if you refinance before the buydown period is over.

As always, let me know how I can help you!

Good afternoon! Here is your Weekly Market Update.The Big PictureThe main driver for mortgage rates this week was the la...
05/11/2026

Good afternoon! Here is your Weekly Market Update.

The Big Picture
The main driver for mortgage rates this week was the latest employment report. Because the job market remains stronger than expected, investors are betting that the Federal Reserve won't be rushing to cut rates anytime soon. This "strong economy" news actually pushes mortgage rates a bit higher because it signals that the fight against inflation isn't over yet.

Key Factors at Play
Inflation Trends: Recent data shows prices are still "sticky," meaning they aren't falling as fast as everyone hoped. This keeps the cost of borrowing elevated.

What to Watch: We are looking for a consistent cooldown in price hikes before we see a significant move downward in rates.

The Bottom Line: We are in a "wait and see" period. Rates are reacting daily to new data, so keeping your buyers pre-approved and ready to move is more important than ever.

As always, let me know how I can help you!

05/08/2026

Today, 20 years ago, I started at Countrywide. I tell people that I basically started in the mortgage industry at the worst place and time. However, I've always felt that if I can make it through that, I can make it through anything.

No one asked, but if I had one piece of advice, it would be to try to constantly improve. The only way to do that is to be highly critical of yourself, while not losing sight of what you do best.

Here's to 20 more!

Just kidding. There's no way I can do that...

Good afternoon! Here is your Weekly Market Update. Rates have held steady over the last week. We are in a holding patter...
04/27/2026

Good afternoon! Here is your Weekly Market Update.

Rates have held steady over the last week. We are in a holding pattern waiting for a permanent resolution to the conflict in Iran, comments from the Fed this week, and movement on inflation.

The Fed meets this week, but they will hold rates steady. The bigger question will be what they say about expectations moving forward.

As always, please let me know how I can help you!

Good morning! Here is your Weekly Market Update. Rates are trending in the right direction. All eyes are on the conflict...
04/21/2026

Good morning! Here is your Weekly Market Update.

Rates are trending in the right direction. All eyes are on the conflict in Iran, but there seems to be some optimism for a resolution soon. Until we can get out of this, we will be subject to the volatility associated with the conflict.

If we can get a peaceful resolution, the underlying data shows that rates could go back down shortly after.

As always, please let me know how I can help you!

Good afternoon! Here is your Weekly Market Update. Friends do not let friends use Chase Bank (or any other big bank). I...
04/13/2026

Good afternoon! Here is your Weekly Market Update.

Friends do not let friends use Chase Bank (or any other big bank).
In the past two weeks, I have had to step in and save two deals that Chase messed up.

On the first, the agent called me the day before closing, saying Chase said they could no longer do the deal at all. I was given 8 business days to try to close an FHA deal with a 572 credit score that also needed a Rapid Rescore (updating the credit report at the bureau level). We got it done.

On the second, the borrower said Chase kept changing the interest rate on them during the process. I stepped in and got them an interest rate almost 1% lower, and we got it clear to close in less than 2 weeks.

As always, please let me know how I can help you!

Good afternoon! Here is your Weekly Market Update. We have seen some fairly consistent improvements over the past week. ...
04/06/2026

Good afternoon! Here is your Weekly Market Update.

We have seen some fairly consistent improvements over the past week. As I mentioned, the market sentiment has moved from fears of inflation to fears of a recession. As oil prices have increased, it can limit discretionary spending. This is actually good for mortgage rates.

We will keep a close eye on the conflict in Iran. Until we can get out of that, we will likely stay in a fairly volatile rate environment.

As always, let me know how I can help you!

Good afternoon! Here is your Weekly Market Update. Rates are very similar this week. They actually went up some after la...
03/30/2026

Good afternoon! Here is your Weekly Market Update.

Rates are very similar this week. They actually went up some after last Monday, but fears of inflation have turned towards fears of a recession.

As you might be aware, these two idea are contradictory as far as mortgage rates go. Inflation drives up rates and any fear of a recession drives rates down.

I personally don’t think we currently have anything to fear as far as a recession goes, but I’ll take any help we can get.

Bottom line: we need the conflict in Iran to be resolved. Until then, we will see increased volatility.

As always, please let me know how I can help you!

Address

2591 Dallas Pkwy Suite 300
Frisco, TX
75034

Opening Hours

Monday 8:30am - 5:30pm
Tuesday 8:30am - 5:30pm
Wednesday 8:30am - 5:30pm
Thursday 8:30am - 5:30pm
Friday 8:30am - 5:30pm

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