The David Greene Show Mortgage Monday - Interest Rates Down | Episode 73
Jul 14, 2025
Christian Bachelder from The One Brokerage shares expert insights on the recent decline in mortgage rates, now averaging around 6.88%. He discusses the surge in refinancing applications and who should take advantage of this opportunity. The conversation includes the importance of pre-approval in today's volatile market and how rates impact housing prices. Bachelder also sheds light on the diverse profiles of mortgage borrowers and the 'golden handcuffs' phenomenon that keeps many homeowners from selling.
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Interest Rates Drop Spurs Refinancing
- Interest rates have fallen to around 6.88%, leading to a surge in mortgage refinance applications.
- This is the first significant rate drop in years and is driving increased loan activity and homeowner savings.
Understand Rate Vs. Points
- Interest rates include not just the quoted rate but also points, which are upfront fees affecting total mortgage cost.
- A small drop in rates, e.g., 24 basis points, can translate to significant savings on closing costs.
Lean Brokers Offer Better Rates
- Brokers with lean operations and no big marketing budgets can offer lower rates than large brokerages with heavy overhead.
- Paying for marketing inflates rates through layered commissions and fees, reducing affordability.