05/29/2026
Happy Friday!! Lowest mortgage rates in 2 wks! Sounds exciting until you realize we’re only down to 6.56% 🤣
What’s driving the rates? The Memorandum of Understanding about the Middle East situation is keeping markets cautiously optimistic for now, and inflation updates this week came in right at and just below expectations. And finally, we got a downward revision to GDP numbers. Not sure the GDP news counts as good news, but together it’s all keeping mortgage rates in check.
And purchase applications have held their ground. A decent group of buyers aren’t waiting for rates to drop (finally).
And here’s why they shouldn’t wait! Fannie Mae and Pulsemonics released their Home Price Expectations Survey and here is what they expect:
Prices will rise:
+2.5% in 12 months = $12,500 on a $500K home
+14% in 5 years = $70K on a $500K home
And as home values go up, that $2,500/mo rent = $30,000/yr. Gone. Forever. A mortgage builds equity. Rent builds your landlord’s portfolio.
Heading into the weekend national average rates are around:
6.56% conventional 30
6.09% conventional 15
6.10% FHA
6.12% VA
No Income Inv: 6.87 | Bank stmt: 6.89
Buyers are talking themselves into waiting. Let me help you talk you out of waiting!
Find yourself on your OWN Patio This Summer!
Thanks so much for the information@RichardAllen with Guild Mortgage
Karen Vidrine, REALTOR
Century21 Investment Realty
2435 Drusilla Lane
Baton Rouge, LA 70809
225 291-2121
225 571-6539
Broker is licensed in Louisiana and Mississippi. Each office is independently owned and operated.
