Refinance Demand Surges by 25% as Rates Stay Near 2025 Lows

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TODAY’S MORTGAGE RATES

Mortgage Interest Rates stayed virtually
the same this week with the Mortgage
Backed Security (MBS) Market trading
up + 1 bps. Current mortgage rates
are hovering just above 2025 lows.

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

Last week we had the Producer’s
Price Index – an inflation measure
for companies that produce goods
and services. The PPI came in
much higher than anticipated showing
a year over year inflation number
of 3.3%. Because the Consumer Price
Index was much lower, it’s reasonable
to conclude that producers are passing
on higher costs to consumers yet.

The big news this week will be FED
Chief Jerome Powell speaking at the
Jackson Hole Symposium. In his
speech, he will likely give clues to
what the FED will likely do with
the Federal Funds rate at their
September meeting.

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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WEEKLY REFINANCING DEMAND SURGES

Refinance demand shot up 23% in
the past week.

Many consumers are looking to cash
out refinances to consolidate higher
interest rate date. HELOCS to do the
same as well as ARM loans which
can have lower rates than traditional
30-year fixed mortgages.

If you would like to take a look at your
options, please give me a call.