VIDEO UPDATE:

Rates Drop Back Below 7%, Here is Your Weekly Mortgage Rate Update 🏡

TODAY’S MORTGAGE RATES

Mortgage Interest Rates went down
by .06% on the week. The average
30-year fixed conventional interest
rate in the U.S. has popped below
7%. FHA and VA average 30-year
fixed rates are sitting mid 6%s.

The Mortgage Backed Security Market
traded up + 40 bps over the past
7 days. The 10 Year Treasury
currently sits at 4.41%.

Below are your average interest rates
across the country according to
Mortgage News Daily.

The big news last week was the
PCE inflation report which came
in lower than expected. Year over
Year inflation is now at 2.1%.

The big market mover this week
is May’s BLS Jobs Report which
comes out Friday. Generally
speaking, job creation numbers
beating expectations hurts interest
rates. Job creation coming in lower
than expectations helps interest rates.

There are a lot of characteristics
that go into a mortgage rate –
credit score, investor, loan to
value, loan amount, costs, etc.
Please call me to go over your specific
scenario so we can price your loan
out accurately.

Or you can get a Free Mortgage Quote
or Apply for a Mortgage with the links below.

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CASE SHILLER HOME PRICE INDEX

Despite housing prices getting negative
media attention, home prices have
continued to show resilience.

National home prices have gone up
3.4% over the past 12 months. Home
prices went down -.3% from February
2025 to March 2025.

Here is where we see the 20
City Composite Home Appreciation
over the past 12 months. 19 of 20
cities showed home appreciation
on the year.

1. New York +8.0%
2. Chicago +6.5%
3. Cleveland +5.9%
4. Detroit +5.8%
5. Boston +4.7%
6. Las Vegas +4.7%
7. Washington +4.5%
8. Seattle +4.2%
9. Los Angeles +4.1%
10. Minneapolis +2.8%
11. Charlotte +2.7%
12. Atlanta 2.5%
13. Miami +1.8%
14. San Diego +1.7%
15. San Francisco +1.6%
16. Phoenix +1.5%
17. Portland +1.4%
18. Denver +1.4%
19. Dallas +0.2%
20. Tampa -2.2%

Hope you have a great week!