This may sound a bit technical but don’t worry, it’s important for homebuyers like you to understand the spread. So, here’s the deal: it actually means there’s a chance for mortgage rates to improve today, based on the usual historical difference between two key factors.

But wait, there’s more! Experts believe that this positive trend will likely continue, as long as inflation keeps cooling down. Odeta Kushi, Deputy Chief Economist at First American, explains it best:

“It’s reasonable to assume that the spread, and consequently mortgage rates, will decrease in the second half of the year if the Fed eases up on monetary tightening… However, it’s not likely that the spread will return to its typical average of 170 basis points since there are some ongoing risks to consider.”

So, what does this mean for you? It means that understanding these factors can help you make informed decisions when it comes to buying a home and securing a mortgage. Stay tuned for potential improvements in mortgage rates, and remember to weigh the risks involved.

Reach out to a lender today and explore your options

FIRST WESTERN TRUST- BEN SMITH

970-407-3115       BEN.SMITH@MYFW.COM

GUARANTEED RATE – KRISTIN JOHNSON

303 875-5686      KRISTEN.JOHNSON@RATE.COM

ACADEMY MORTGAGE – JOE WOODMAN

970-818-6484      joseph.woodman@academymortgage.com

UNIVERSAL LENDING – KIM MARTIN

970-283-7686      KLMARTIN@ULC.COM

UNIVERSAL LENDING–CHRIS MURPHY

323-363-6760      CMURPHY@ULC.COM