Wondering what's happening with mortgage rates this week? 📉
I'm Dave Steinberg—your mortgage guy—and in this episode of Rate Watch, I’m breaking down the current rate trends and the Top 10 Mortgage Myths that cost homebuyers time, money, and peace of mind.
Whether you're a first-time buyer or just need a refresher, this video is packed with actionable insights to help you make smarter homebuying decisions. âś…
- Mortgage rates are currently at their best levels of the year**, slightly improved week over week—now may be a smart time to lock in a rate.
- Avoid common mortgage myths** like needing 20% down or thinking pre-qualification equals pre-approval.
- Running your credit early** is actually helpful—it lets you fix any issues before applying for a loan.
- Affordability isn’t the same as approval**—understand your full financial picture before buying.
- Working with professionals (especially mortgage brokers)** can save you money, offer better options, and help you avoid costly mistakes.
Dave Steinberg NMLS: #67325 Mortgage Broker Summit Funding
Chapters:
00:00 - Intro & Weekly Rate Update
00:15 - Best Rates of the Year?
00:26 - Should You Lock Your Rate Now?
00:34 - Top 10 Homebuyer Myths (Intro)
00:49 - Myth 1: Don’t Run Credit Early
01:02 - Myth 2: Approval = Affordability
01:21 - Myth 3: You Need 20% Down
01:36 - Myth 4: Down Payment Covers Everything
01:50 - Myth 5: I Can Do It Myself
02:05 - Myth 6: The Perfect Home Exists
02:27 - Myth 7: Pre-Qual vs. Pre-Approval
02:48 - Myth 8: Never Pay Over Asking
03:13 - Myth 9: Skip the Inspection
03:31 - Myth 10: Banks Are Better Than Brokers
03:48 - Final Thoughts & Sign-Off
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Connect with me:
Office: 718.575.1166
Email: dave@summitfunding.com
https://summitfunding.com
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Summit Funding | Registered Mortgage Broker (NMLS #52081) New York State Department of Financial Services
7030 137 Street, Kew Gardens Hills, NY 11367
Summit Funding | Licensed Correspondent Mortgage Lender (NMLS #301151) New Jersey Department of Banking and Insurance
Summit Funding Inc., Your Mortgage Professionals Licensed Mortgage Broker (NMLS #84943) | State of Connecticut Department of Banking
Summit Funding, Your Mortgage Professionals, Inc. Licensed Mortgage Broker (NMLS #84943) | Florida Office of Financial Regulation
Loans Provided By Third Party Lenders
Refer with Confidence®
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