The 10-year is now at 4.04%.....already mortgage rates are down. Many COMPASS clients already get 7/1 ARM mortgages that are now closer to 5.25%..... Why wait for the FED next week?
• 10-year Treasury yield is at 4.04%.
This is important because mortgage rates usually follow the 10-year Treasury yield (not exactly, but they move in the same direction).
• Mortgage rates are already coming down.
As the yield drops, lenders start offering lower mortgage rates.
• Compass clients are already locking in 7/1 ARMs at ~5.25%.
Compared to fixed-rate loans, these ARMs look more attractive right now.
💡 What’s a 7/1 ARM?
An ARM (Adjustable-Rate Mortgage) starts with a fixed rate for a set number of years — in this case, 7 years — and then adjusts annually after that. It’s a great option for buyers who don’t plan to stay in the same home long-term, since the initial rate is usually lower than a 30-year fixed loan.
An ARM (Adjustable-Rate Mortgage) starts with a fixed rate for a set number of years — in this case, 7 years — and then adjusts annually after that. It’s a great option for buyers who don’t plan to stay in the same home long-term, since the initial rate is usually lower than a 30-year fixed loan.
• Why wait for the Fed next week?
The idea: mortgage markets often react before the Fed makes its official rate decision. So if rates are already improving, waiting for the Fed may not give buyers a better deal.
Are mortgage rates finally low enough to get buyers off the sidelines?
Mortgage rates have dipped to their lowest level in nearly a year—bringing back questions about whether buyer demand is about to rebound. COMPASS Chief Economist Mike Simonsen breaks down what this shift could mean for sellers, buyers, and pricing trends ahead. Watch the full update
Mortgage rates have dipped to their lowest level in nearly a year—bringing back questions about whether buyer demand is about to rebound. COMPASS Chief Economist Mike Simonsen breaks down what this shift could mean for sellers, buyers, and pricing trends ahead. Watch the full update
Knowledge is power! COMPASS and Florida 360 Group are always on track
to keep you informed about the tends that matter most.
Reach out anytime to discuss what today's market means for you.
Thomas Pidgeon
Broker Associate
Florida 360 Group | COMPASS
(954) 245-9346
[email protected]
florida360group.com
