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Opportunities for Buyers and Refinancers
Good news on the rate front! The average 30-year fixed mortgage dropped again this week to 6.26%, its lowest level since last October. The 15-year fixed rate also eased slightly to 5.41%. With the Fed’s recent rate cut, we’re seeing more activity in the market. Mortgage applications jumped nearly 30% last week, with refinancing making up almost 60% of that.
Adjustable-rate mortgages are also seeing their highest demand since 2008. While many homeowners are still holding onto lower-rate loans, this shift is creating new opportunities for buyers and those looking to refinance. If you’ve been waiting for the right time, now may be worth a closer look! Give me a call today, and we can see what scenario makes sense for you! 1

5 Smart Ways to Save Money When Buying a Home
Buying a home is exciting, but it can also feel expensive. The good news is, there are smart ways to cut costs throughout the process. Here are five tips I always encourage my clients to consider:
- Consider a Fixer-Upper
Homes that need a little work often come with a lower price tag and long-term equity potential. - Explore First-Time Buyer Programs
Federal, state, and local programs may offer down payment help, grants, or lower-rate mortgages. At RWM, we offer first-time homebuyer, DPA, and community lending programs that can ease some of the financial pressure you may be feeling. - Consider a Smaller Down Payment
If you qualify for first-time homebuyer programs or low down payment options, you may be able to reduce upfront costs without sacrificing long-term benefits. - Budget for Inspections Wisely
Inspections are essential, but you can save by comparing certified inspectors’ rates and taking advantage of offers and incentives. Combining services can also help reduce costs. - Plan for Ongoing Costs Early
Reducing moving expenses, utilities setup fees, and maintenance surprises can help you avoid unplanned costs after you close. Early planning and budgeting go a long way.
Even small savings in these areas can add up quickly. If you’d like to know which strategies might be the best fit for you, give me a call! I’d be happy to help! 2
Did You Know?
Did you know that since 2021, the share of outstanding mortgages with rates above 6% has more than doubled, creating opportunities for homeowners to refinance and potentially lower their monthly payments? 3

Tips for Stress-Free Homeownership
Becoming a homeowner is an exciting milestone, but it can also come with stress, especially for first-time home buyers. Between unpacking, managing unexpected repairs, and adjusting to higher bills, it’s easy to feel overwhelmed. The key is to take things step by step, focusing first on essentials like safety and urgent repairs before tackling cosmetic projects. Planning ahead with a home emergency fund, budgeting for maintenance, and handling projects in phases can make costs more manageable.
It’s also important to balance projects with rest and family time, celebrate your home with friends or family, and build connections in your community to make your space feel truly rewarding. With patience, planning, and perspective, you can reduce stress and enjoy the many joys of homeownership! I’m here to help you every step of the way. 4

Master Your Credit Score Before Your Next Big Move
Understanding your credit is one of the most important steps in preparing for big financial decisions, like buying a home. A credit score generally ranges from 300 to 850, with 700 or above considered good and 800+ excellent. Key tips include knowing the difference between credit and debit cards, understanding what a credit report shows, and building credit responsibly, even if you’re starting from scratch.
Avoid common mistakes like overspending or missing payments, and focus on establishing healthy credit habits early. If you want to feel confident about your credit before taking the next financial step, learning the basics and staying informed is the best place to start. If you have any questions about understanding or increasing your credit score, feel free to reach out at any time! 5
Sources: 1 apnews.com, 2 forbes.com, 3 cnbc.com, 4 rwmloans.com, 5 experian.com |