07/31/2026
Rates go up. Rates go down. Repeat.
It seemed like a good Friday to bring back my mortgage market song.
The last few weeks have been some of the wildest rate swings I’ve seen in my career. We’ve gone from “float” to “lock” to “float” again, sometimes all in the same week. Mortgage backed securities move every bit as fast as the stock market, and lately they’ve definitely been keeping us on our toes.
Here’s the good news. While rates are higher, buyers have opportunities they simply don’t have when rates are low. Sellers are negotiating. They’re contributing to closing costs, paying for temporary buydowns, making repairs, and accepting offers they probably wouldn’t even consider in a hot, low rate market.
My favorite saying has become, “Date the rate. Marry the house.”
Find the right house while you have negotiating power. When the market settles down, we’ll work on getting you into a long term relationship with a lower rate through a refinance.
Until then… enjoy the song, have a great Friday, and remember, this too shall pass.
