Mortgage rates are holding around 6% as we close out the year, nearly 1% lower than last December. But should you lock your rate now or wait for further drops? In this week’s Rate Watch, we break down what today’s market means for homebuyers and refinancers.
Dave Steinberg NMLS: #67325 Mortgage Broker Summit Funding
What You'll Learn In this Video:
- Mortgage rates are around 6% as the year ends—almost 1% lower than a year ago.
- Future rate movement is uncertain, so Dave remains cautiously optimistic.
- Many buyers try to wait for lower rates, but this can backfire if the market turns.
- Dave recommends locking rates early, especially within 30 days of closing, to avoid getting stuck if rates rise.
- Mortgage brokers can often “float down” your rate if the market improves—potentially lowering your rate at no cost before closing.
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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
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