What’s Up With Mortgage Rates???

Financial Markets Are Free Falling

The world’s financial markets are currently in chaos as a global tariff trade war escalates. For the first time ever, the Dow Jones stock market dropped more than 1500 points two days in a row. The S&P 500 stock market is down more than 20% in recent weeks, a textbook “bear-market” collapse. 

Fear, uncertainty, and panic are beginning to set in. Typically, these types of market sentiments lead to lower rates. 

But contrary to recent sensational headlines and advertisements, mortgage rates have not had a huge slide…yet. Last week, 30-yr rates fell .15% to their lowest levels thus far in 2025. That has spurred a tremendous amount of refinance marketing activity amongst mortgage companies. But the reality is most folks with rates under 7% still won’t realize much benefit from a refi.

If things continue, however, there will be tremendous refinance opportunities for many homeowners. As always, I will keep a watch on the financial markets and reach out when I see realistic refinance opportunities for my clients.

If you are hoping to refinance to a lower rate, temper your excitement for now. Don’t fall for the premature hype being pushed by aggressive mortgage marketing companies. But, it would be a great time to begin the application process with me as we await rates to drop further.