As the Federal Reserve has indicated lowering inflation is a top priority and raising short term interest rates as its primary tool to do this, we have seen mortgage markets react with higher rates (mortgage rates are not directly tied to the Fed rate, but they often move in the same direction).
The 30 year rate moved up to 5.89% this week accord B ing to Freddie Mac. While these rates are higher than pandemic lows, the still fall into the historic “normal” range.
While the Fed is taking a strong position against inflation, we are seeing market conditions improve in some areas. As Dawit Kebede, an economist for the Credit Union National Association noted recently, “there are signs that some of the main drivers of inflation are easing, such as lower oil and other commodity prices in July, slower wage growth, and declining supply chain pressures.”
There is also a renewed interest in ARM loans with the 5/1 ARM at an average of 4.52% last week.
Every loan scenario is unique so fill out our loan analyzer on our website and we can see what program is a good fit for you!

If you are thinking about selling your home and want to maximize your value without taking on major renovations here are some quick and (relatively) easy things you can do.
1. Update the hardware – if you have dated or weathered knobs, mirrors, handles, faucets switching them out with more modern ones can make things look a lot fresher.
2. Paint – this is one of the most obvious ones but a fresh coat of paint (or two) can work wonders.
3. Go Green – adding plants can make things look a lot livelier.
4. Deep clean the bathrooms – if you have grout or stains they can be a big eye sore.
5. Deep clean the outdoors – a power washer can make a huge difference on a dirty house as well as walkways and patios.
6. Smarten things up – a wifi doorbell, cameras and lights are very popular add-ons.
7. Roll out the welcome mat – literally – a new mat and freshening up the entrance really helps.
8. Don’t forget the backyard – if you have a sad lawn and furniture make sure they get some tlc too.
9. Precision landscape – if you have bare patches on the lawn, re-sod them, if things are looking less then lively consider a few new plantings.
10. Get rid of the clutter – if you have a lot of things piled up in the house consider making some goodwill runs – it will make walk throughs more open and appealing.