04/03/2025
š How Will These Recent Tariffs Impact Mortgage Rates?
Iām going to make this one (kinda) short, but if youāre looking to buy OR refi you should lend me your 47 seconds of attentionā¦
š¬ Ok, on to the show!
First, generally negativity in the market is good for mortgage rates and positive news isā¦well bad.
This is because, for the MOST PART mortgage rates are determined by the 10 Year Treasury Yield. Since yesterdayās announcement, the markets have decided that tariffs are āno buenoā, which is why youāve seen stocks and crypto dropping.
With this wild uncertainty(no matter how you personally feelā¦itās a CRAZY TIME to be alive) weāve actually seen the 10 Year Treasury Yieldā¦
DROP LIKE A ROCK!
(Hereās some recent historical context; last Thursday the 10 Year was at 4.36. This morning it was 4.02.
š£ Remember, when the 10 Year drops, so do rates...and vice versa)
Now...dont think rates are going down to 5%(or lower) tomorrow. Expect volatility, and lots of it!
But if you ARE presently looking to purchase, youāre in a great spot. Thereās LOTS of inventory out there and rates are lower than theyāve been in a while.
As an example, think about the community of Olympia in Wellington, FL(my āhoodā). I believe there are 46 homes on market right now! With that weakness, donāt you think you can make an offer under list price???
Okā¦I could go on and on, but I promised to make this one short-ish, and I have an appraisal to orderš
š² If you have any specific qās feel free to comment below or shoot me over a DM. Iām also glad to let you know what youād qualify for(price and rate wise) if youād like.
Either way...Iām always glad to help...especially in this crazy market!
Jason Eichmiller
President of Key Home Lending
NMLS 297995
Cell (443) 802 5923
Email [email protected]
šāāļø PS the pic is of 11 year old Molly carving out the Flo Rider on our Spring Break cruise...Iāve never seen her so āzen likeāš¤£