Your Money Minute Mortgage Rate Roulette 3/13/25
Mar 13, 2025
Dive into the world of mortgage rates as they soar above pandemic-era lows. Discover key strategies for navigating the spring home buying season. Learn the importance of sticking to your budget and the benefits of selecting a mortgage company that offers a float down option. It's a whirlwind of advice for prospective buyers!
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Mortgage Rates and Treasury Bonds
- Mortgage rates generally follow the 10-year treasury bond yield.
- The 10-year yield has been relatively stable since the election.
Mortgage Rate Volatility
- Mortgage rates were around 7.2% in early February.
- By early March, rates had fallen to 6.75%, demonstrating volatility.
Home Buying Advice
- Stop waiting for a significant mortgage rate drop; start house hunting.
- Find a mortgage company offering a "float down" option.