Salvador Cortez at Absolute Mortgage Group Inc.
Salvador Cortez
Absolute Mortgage Group Inc.
Phone: (916) 668-0043
Email: [email protected]
NMLS# 1813194
Company NMLS# 1874315
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As we look back at the first two weeks of August and into mid-Q3, here’s what we know: mortgage rates are holding steady near their lowest levels since October 2024.
That’s a big deal if you’ve been thinking about buying a home, refinancing, or just trying to time the market.
It started with the early August jobs report , which came in weaker than expected. That news gave the bond market a boost—and since mortgage rates are closely tied to bonds, rates dropped fast over the course of two days.
Since then, rates have been remarkably stable , sticking to the mid-6% range for top-tier buyers. Even minor bumps along the way haven’t changed the bigger picture.
Despite a few volatile moments in the market this week—especially from Tuesday’s inflation report —mortgage rates haven’t moved much. The inflation data was mixed: some prices are still rising (especially in services), while housing-related costs are continuing to cool off.
The result? The Fed may still cut rates in September , and mortgage rates continue to reflect that possibility. As of August 14 , they’re still near 10-month lows.
In today’s housing market, every fraction of a percent matters. A lower rate can mean:
More affordable monthly payments
Qualifying for a higher home price
More favorable refinance terms
If you’ve been waiting for the right moment to run the numbers or explore your options, this is it. Even though the market is stable now, upcoming data could shift things quickly.
???? Rates dropped after the early August jobs report and have stayed low
???? Inflation data this week didn’t shake the market much
???? Buyers and homeowners have a strong opportunity to lock in rates before any potential market movement
Let’s Talk! Whether you’re buying your first home, refinancing, or just watching the market—now’s a great time to check your numbers and make a plan.
Just comment, message, or give me a call—I’m here to help. Source: Mortgage News Daily
We've been helping customers afford the home of their dreams for many years and we love what we do... Company NMLS: 1874315 Personal NMLS: 1813194 NMLS Consumer Access
1942 Del Paso Road, Suite 130 Rm 103 Sacramento, CA 95834 Phone: (916) 668-0043 [email protected]
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