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What’s Ahead For Mortgage Rates This Week – June 30th, 2025

June 30, 2025 by Kay Monigold

With the passing of the previous busy weeks of rate decisions, this week features the Federal Reserve’s preferred inflation report in the PCE Index, which has shown that inflation has come in hotter than expected for the month of May. This likely cements the Federal Reserve’s decision to take no action until later and further confirming most economists’ predictions. The consumer confidence has also taken a hit as it has further declined again for the month of May, indicating there is still significant apprehension within the markets and consumers alike. This is accompanied by Consumer Spending data, which met expectations, as many consumers had already begun pulling back on spending in response to tariff policies before many of those measures were paused.

PCE Index
In an updated forecast, Federal Reserve officials now expect inflation, as measured by the core personal-consumption expenditures (PCE) index, to jump to 3.1% by the end of the year, up from a rate of 2.5% in April.

Consumer Spending
Americans cut spending in May after buying lots of new cars and other goods earlier in the year to beat U.S. tariffs, underscoring how ongoing trade wars are disrupting the economy. Personal spending fell 0.1% last month, the government said Friday. It was the first decline since January.

Consumer Sentiment
The ongoing trade wars haven’t faded from public view. Consumer confidence fell in June, as Americans grew more pessimistic about the future of the economy and their ability to find a job. The index of consumer confidence declined to 93 last month from 98.4 in May, when the Trump administration dialed back the highest U.S. tariffs.

Primary Mortgage Market Survey Index
• 15-Yr FRM rates saw a decrease of -0.07% for this week, with the current rates at 5.89%
• 30-Yr FRM rates saw a decrease of of -0.04% for this week, with the current rates at 6.77%

MND Rate Index
• 30-Yr FHA rates saw a decrease of -0.19% for this week, with the current rates at 6.22%
• 30-Yr VA rates saw a decrease of -0.19% for this week, with the current rates at 6.23%

Jobless Claims
Initial Claims were reported to be 236,000 compared to the expected claims of 246,000. The prior week landed at 246,000.

What’s Ahead
Non-farm Payrolls, Job Data, Manufacturing PMI Data will be the largest reports out for next week. The most important data reflecting the impact of tariffs has already been released.

Filed Under: Financial Reports Tagged With: Financial Report, Jobless Claims, Mortgage Rates

From Pre-Approval to Closing What to Expect in the Mortgage Journey

June 27, 2025 by Kay Monigold

June is National Homeownership Month, making it the perfect time to understand the full path to homeownership. If you are planning to buy a home, especially for the first time, knowing what to expect during the mortgage process can take away much of the stress. This guide walks you through each step and highlights how working with the right mortgage professional keeps everything on track.

Step One: Pre-Approval
The first and most important step in your mortgage journey is pre-approval. This is where a lender reviews your income, credit, debt, and assets to determine how much home you can afford. You will provide documents like pay stubs, W-2s, tax returns, and bank statements. A pre-approval gives you a clear budget and shows sellers that you are a serious buyer.

Getting pre-approved during National Homeownership Month is a smart move. It sets you up to take advantage of the busy summer buying season when more homes are available and families want to move before the school year starts.

Step Two: House Hunting and Making an Offer
Once you are pre-approved, you can confidently shop for a home. With your budget in hand, you and your real estate agent can focus on properties that meet your needs and price range. When you find the right one, your agent will help you make an offer.

A strong offer backed by a pre-approval letter shows sellers that you are ready and able to purchase. This can be a deciding factor in competitive markets.

Step Three: Loan Processing and Underwriting
After your offer is accepted, you officially begin the mortgage loan process. Your lender will gather more documentation and begin verifying all the details. This part of the journey includes ordering the home appraisal and reviewing your financial file in depth.

The underwriter is the key decision-maker in this stage. They assess your risk level and decide whether to approve the loan. This step can feel slow or stressful, but as your mortgage originator, I help keep the process moving by staying in close contact with both you and the lender.

Step Four: Loan Approval and Closing Preparation
Once the underwriter approves your loan, you are almost there. You will receive a closing disclosure with your final loan terms and costs. You will need to review and acknowledge this document at least three business days before closing.

During National Homeownership Month, this is the moment when buyers start to see the finish line. It is also when I double-check that all documents are accurate and that nothing is missing before you sign.

Step Five: Closing Day
Closing is the final step. You will sign your loan documents, pay your closing costs and down payment, and finally get the keys to your new home. This is the most exciting moment in the entire journey and one worth celebrating.

By knowing what to expect and working with a trusted mortgage professional, you can turn a stressful process into a rewarding milestone. National Homeownership Month is a great reminder that preparation and expert support make all the difference in achieving your homeownership goals.

Filed Under: Mortgage Tagged With: Mortgage Journey, National Homeownership Month, Pre-Approval To Closing

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Our Team

Kay MonigoldKay Monigold
Owner/Mortgage Broker/Residential Mortgage Loan Originator
NMLS#1086176

Steven LoweSteven P Lowe, Sr
Residential Mortgage Loan Originator
NMLS #1085638

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