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Mortgage rates hit 7.37% today, the highest level since May 2024. 📈

But remember: we were closing mortgages in the low 8s in October 2023.

Be VERY careful spending thousands of dollars on points to buy down your rate today. On this rate rollercoaster, you could have an opportunity to refinance before those points ever pay for themselves.

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate

#MortgageRates #MortgageTips #HomeBuying #RealEstate

Redfin says this is the strongest buyer’s market on record.

But Redfin’s own Home Price Index says prices rose 3.7% over the last year. 🤔🏠

Some markets ARE down. Others are extremely competitive.

That’s the problem with treating the entire country like one housing market.

Before someone tells you it’s a buyer’s market, ask one question:

WHICH market?

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate #HousingMarket #HomePrices #RealEstate #MortgageRates #Homebuyers

America is now investing more money in computers than housing. 🤯🏠💻

AI and data-center investment is exploding while residential investment is struggling under high interest rates.

And that creates a huge problem:

We already need more homes. If high rates discourage builders from creating new supply, where are those homes supposed to come from?

High mortgage rates don't automatically fix housing affordability.

Sometimes they make the supply problem worse.

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate #MortgageRates #HousingMarket #RealEstate #AI #Homebuyers

“Just wait. Home prices will crash AND mortgage rates will go back to 3%.”

That’s not a strategy. That’s trying to perfectly time two different markets. 😂🏡

Nobody knows exactly where home prices or mortgage rates are going next.

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate #Mortgage #RealEstate #HomeBuying #MortgageRates #FirstTimeHomeBuyer

The Fed’s inflation story just changed AGAIN. 😳

Chicago Fed President Austan Goolsbee says strong demand may now be contributing to inflation, not just oil, tariffs, and other supply shocks.

That matters because demand-driven inflation gives the Fed a much clearer reason to keep raising rates.

But here’s what homebuyers need to understand:

🏠 A Fed rate hike does NOT automatically mean higher mortgage rates.

Mortgage rates follow the bond market much more closely. If investors believe the Fed is getting serious about inflation, long-term Treasury yields can actually fall.

Stop watching the Fed rate alone.

Watch inflation. Watch the 10-year Treasury. Watch the bond market.

That’s where mortgage rates are really being decided.

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate

#MortgageRates #FederalReserve #Inflation #HousingMarket #RealEstate

That $80K truck payment could seriously reduce how much house you qualify for. 🛻💸🏠

If buying a home is in your future, figure out the mortgage FIRST.

Then buy the truck.

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate

#Mortgage #HomeBuying #MortgageTips

YOU GOT THE HOUSE!!! 🎉🏡🔑

Before you start decorating, buying furniture, and arguing over where the couch goes… do these things FIRST.

Move-in week gets chaotic fast. Here are 6 things that can make it a whole lot easier:

🔐 Change the locks and reset the garage and door codes.

📶 Get the internet scheduled BEFORE move-in day. You’ll thank yourself later.

🚽 Replace the toilet seats. They’re cheap, easy to swap, and… you know why. 😂

🎒 Pack a first-night bag with clothes, toiletries, chargers, medications, toilet paper, and anything else you don’t want buried in Box #37.

🔌 Check your appliances and hookups BEFORE delivery day. Washer hoses, dryer cords, gas connections, refrigerator water lines… make sure you have what you need.

🍕 Have a food plan. Takeout, delivery, grocery pickup… anything is better than realizing at 8 PM that you’ve been moving furniture all day and have nothing to eat.

And remember: your new house does NOT have to be perfect on Day One.

You’ve got plenty of time to make it yours. ❤️🏡

Save this for closing day or send it to someone who just bought a home! 🔑

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate

Everything is getting more expensive again. 📈

Inflation is running hot. Gas prices jumped. Oil is around $100 a barrel. Mortgage rates are hovering around 7%. And wages haven't been keeping up.

Now Americans could be facing another hit from winter energy costs. 🥶💸

This is exactly why the Federal Reserve is willing to keep interest rates high.

The problem? There may be no pain-free option.

Lower rates too soon and inflation could accelerate.

Keep rates high and borrowing stays painfully expensive.

I'm watching the Fed, inflation, bonds and mortgage rates every day.

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate #MortgageRates #FederalReserve #Inflation #HousingMarket #Economy

Three words from Fed Chairman Kevin Warsh have Wall Street paying VERY close attention:

“dose of accommodation.”

The Fed just raised rates 0.25%, but Warsh described the move as removing a “dose” of accommodation rather than simply tightening monetary policy.

That raises a huge question:

How much accommodation does he think is still left?

Markets are already reassessing what comes next, with the probability of another hike at the October meeting rising substantially.

And for homebuyers and homeowners, remember:

🏦 The Fed doesn’t directly set mortgage rates.

📈 The bond market moves on EXPECTATIONS.

🏠 Mortgage rates can react long before the next Fed meeting.

The Fed made its move Wednesday.

Now the market is trying to figure out how many more could be coming.

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate #FederalReserve #MortgageRates #InterestRates #Economy #HousingMarket

Your maximum mortgage approval shouldn’t automatically become your home-buying budget.

You still have groceries, gas, utilities, insurance, savings and everything else life throws at you.

The goal isn’t to buy the most expensive house a lender will approve.

It’s to buy a home you can comfortably afford.

DM me if you want help running the real numbers before you start shopping.

Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate #Mortgage #HomeBuying #MortgageTips #RealEstate #FirstTimeHomeBuyer