05/23/2025
5/23/2025- Let’s stay updated with industry news!
🟡/🟢 The 30-year rates for the week ending Friday, May 23rd, were 6.86%, up .05% from last week. Rates are still lower than they were one year ago.
🟡/🟢Inventory continues to rise, good, if you are a buyer, not so much if you are a seller.
🟡A sharp selloff in bonds in April may have helped reverse some of the White House's most stringent tariff proposals. Investors that buy mortgages look at mortgages as a "type" of bond. While not strictly a bond, but like bonds, investors buy mortgages hoping for a consistent fixed rate of return (your interest rate) over many years.
🟡On May 16th, Moody's downgraded the USA credit rating. This type of action puts upward pressure in all interest rates.
Favorite quote: "Is the glass half full, or is it half empty?" -Josiah Stamp
Have a wonderful Memorial Day weekend.
David Richards
SWBC Mortgage