- Kreg & Nick - Weekly Mortgage Update
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Archive
Big Win for Buyers: New Credit Score Approved for Mortgages
Fannie Mae and Freddie Mac now accept VantageScore 4.0, giving lenders a real alternative to FICO. Only 1.1M first-time buyers purchased homes in 2024—the lowest since 1989. Rumors of Powell's resignation are swirling, but a premature exit could shake market stability.
"Big Beautiful Bill" Passes - How It Affects 🫵
The “Big Beautiful Bill” just passed, bringing major wins for agents, investors, and homeowners—from preserving the mortgage interest deduction to boosting real estate tax perks. Meanwhile, hopes for a July rate cut are officially dead as a strong jobs report gives the Fed every reason to hold steady. But the real spark? OHFA just slashed rates into the low 5’s, and it’s already driving serious buyer activity across Ohio.
Bitcoin Might Soon Help You Buy a House
From Bitcoin potentially counting toward mortgage assets, to Buy Now, Pay Later loans creeping onto credit reports, the game is changing fast. Plus, NAR’s top economist just laid out a playbook for finishing 2025 strong—and it’s packed with opportunity if you know where to look.
Oil Surge = Rate Surge? Real Estate’s New Threat
Global tensions are rising, but mortgage rates haven’t budged—2025 is breaking the usual playbook. If Iran blocks the Strait of Hormuz, soaring oil prices could reignite inflation and keep rates elevated. Powell’s holding firm: no cuts until inflation cools.
⛽️ Conflict, Crude, and Closings: How the Israel-Iran Tension COULD Affect Rates
Geopolitical tension is heating up—and it’s not just overseas. Oil prices, inflation risk, and Fed policy are all on the table as conflict in the Middle East threatens global markets (and mortgage rates). Plus: why the MBA’s credit report reform won’t move the needle for buyers, and a fresh look at inflation data that’s cooler than expected—but still not cool enough for the Fed to cut.
Houston, We Have a Problem—How Should 🫵 Prepare?
🚨 The U.S. just crossed $37 trillion in debt—and it’s piling on another trillion every 100 days. Elon and Trump are throwing punches over it, but the real fight is with math that doesn’t lie. In a world where the money printer won’t stop, real estate remains your best defense—and your clients need to hear that from you now.
🏛 Fannie & Freddie: Time to Release or Keep Them on a Leash?
Fannie and Freddie might finally break free from government control—and the fallout could shake up rates, guidelines, and your closings. The HELPER Act is gaining steam, offering VA-style perks to teachers and first responders. Plus, a simple strategy to spark listings without making a single cold call.
Mortgage Rates Inch Higher—Again
Mortgage rates climbed again this week—driven by a weak bond auction and Trump’s “Big Beautiful Bill,” which adds trillions to the deficit despite tax relief headlines. Meanwhile, global markets are reacting to delayed tariffs with optimism, but history shows that even “good news” can pressure rates up, not down.
🚨 Big Changes Coming to OHFA Assistance on July 1st!
OHFA is cutting back its down payment assistance—meaning less help for buyers and more need for strategy. Lower.com just acquired Movoto, setting the stage for a fully integrated home search + mortgage experience—and opening new lead-gen doors for plugged-in agents. Both changes could seriously shift how we help buyers win—so now’s the time to get ahead of it.
United States & China Come to Agreement?!
🇺🇸🤝🇨🇳 The U.S. and China may strike a tariff deal—and that could cool inflation and push rates lower. Buyer activity always spikes when uncertainty fades, and we’re seeing signs of a turning point. Plus, a new tax bill could finally unlock more listings and boost much-needed inventory.
4 Jobs Reports. 1 Message: The Labor Market is Softening
🚨 The job market just blinked—and mortgage rates may start to listen soon. From a sharp drop in job openings (JOLTS) to weaker private hiring (ADP) and rising unemployment claims, the labor market is starting to cool. That’s good news for rate watchers—and we break down what it means.
Property Taxes on the Chopping Block 🪓👀
Good news: rates are finally drifting lower after weeks of pure market madness! 📉🔥 Meanwhile, property taxes are under fire and student loan collections are making a messy comeback. Let’s break down what’s happening — and what it means if you’re buying, selling, or financing in 2025. 🚀