Mortgage Rates Are Slipping — Here’s How to Play It Smart

Rates Are Easing (But Still Higher Than We’d Like)

• The average 30-year fixed is hovering around 6.66%, down slightly from last week.

• Some indexes are showing 6.50%, the lowest since April.

• Small shifts matter — even a quarter-point drop can mean thousands in savings over the life of your loan.

Refinance Activity Is Heating Up

• Refinance applications are up 23%, now nearly half of all mortgage activity.

• Cash-out refinances are popular, with homeowners pulling an average $94,000 from equity.

• These moves can raise monthly costs — make sure the long-term math works.

Tight Inventory May Loosen Soon

• Many sellers are “rate-locked,” holding on to pandemic-era low rates.

• Experts say a 1% drop could unlock more listings, giving buyers more options.

Action Steps for Homeowners

• Act, but don’t rush — lock in a better rate only if it improves your monthly or long-term position.

• Need funds? Compare cash-out refis vs. HELOCs to see which keeps more money in your pocket each month.

• Think flexible — an ARM could work if you plan to sell or refinance again within a few years.

Action Steps for Buyers

• Take advantage of quieter competition — motivated sellers may be open to negotiation.

• Stay pre-approved so you can move fast if more listings hit.

• Negotiate a rate buydown — asking sellers to contribute toward lowering your rate can ease monthly payments.

Bottom Line

Rates aren’t at rock-bottom, but they’re shifting in a way that creates opportunity — for both buyers and homeowners ready to refinance. Acting now with the right strategy can put you ahead of the next market wave.

Schedule a Call to Get Ahead
Let’s talk strategy. Whether you want to lock in a better rate or position yourself to buy, Schedule a call today and we’ll create a plan tailored to your goals.