05/15/2026
As much as no one wants to hear it, rates up again today. WHY??? There are Fed talks about about having to possibly increase rates this year to choke off inflation - remember when we though the Fed might lower them this year?
Maybe when the price of crude oil starts to drop the inflation fears will go with it, but right now the concern over inflation and the US debt win out. Mortgage rate are not going to decline to 6% and maybe not even below 6.5% if the present continues.
If you are in contract, lock your rate. There is too much risk to floating. If you are pre-approved to buy a house, and your lender tells you rates are higher than when they qualified you, they aren't lying. This is not a bait and switch.
If you want to have a conversation about getting pre-approved or about the market in general, give me a call - 702-425-4459.
Call now to connect with business.