Mortgage Rate Update
I hope you’re doing well! The Federal Reserve met last week, and announced they would hold the Federal Funds Rate steady for now, as most investors predicted. The benchmark rate has been 4.25% to 4.5% since last December, as the Fed awaits more data to evaluate the impact tariffs will have on the economy.
In other news, Freddie Mac reported mortgage rates are also steady, with the national average on 30-year fixed loans at 6.76% as of May 8, 2025. 
Sam Khater, Freddie Mac’s Chief Economist said, “At this time last year, the 30-year fixed-rate mortgage was 30 basis points higher and purchase applications were declining. Today, rates are lower and have remained stable for weeks, sparking continued increases in purchase applications.” 
Are you ready to buy a home, or refinance your existing mortgage? My team and I are dedicated to providing you with a comprehensive analysis of your best loan options, along with streamlined service to make your experience stress-free. Give us a call for the five-star service you deserve!