A 0.04% Drop Can Still Mean Hundreds in Savings Over 30 Years
Even a minor 4 basis point drop like the one seen last week can save buyers over $2,000 in interest across a 30-year loan.
Despite the drop, average monthly mortgage payments are nearly twice as high compared to just five years ago!
The median home price hit $414,000, the highest April number in recorded U.S. history.
Due to high rates and prices, the income required to buy a median-priced home has surged far above national average salaries.
HOA fees and home insurance have risen so dramatically that they cancel out any relief from minor rate drops.
Since 2019, home prices have nearly doubled, while wages have only increased by around 30%.
Contrary to popular belief, mortgage rates move with Treasury yields, not just the Fed rate.
2025 is on track to become the least affordable year for homebuyers in the last 30+ years.
Many homebuyers are delaying purchases hoping for better rates—but experts warn they may wait forever.
With mortgage rates stuck, a rise in home inventory may finally shift power away from sellers.
Even after the recent drop, the difference in monthly payments compared to last year is just $15.
Political uncertainty around tariffs is making the Fed hesitant to cut rates, despite inflation cooling.
In some areas, HOA dues now rival a car payment, adding even more pressure to buyers’ budgets.
While we've seen a dip, mortgage rates today remain over twice as high as the sub-3% pandemic era.
Despite expectations, experts say the Fed may hold off on rate cuts for the rest of 2025.