What Did Rates Do This Week?
Mortgage rates ticked slightly higher. The main driver behind this week’s movement was rising oil prices, which continue to influence inflation expectations. When oil prices climb, it can increase the cost of goods and transportation, which keeps inflation elevated—and that tends to push mortgage rates higher.
Even with that pressure, rates have been fairly steady, which is a positive sign for both buyers and sellers heading into the spring market.
What to Look Forward to Next Week
Looking ahead, markets will continue to keep a close eye on energy prices and inflation trends, as those remain key drivers of mortgage rates right now.
If oil prices continue to rise, we could see additional upward pressure on rates. However, if energy markets stabilize, mortgage rates may continue to move sideways or improve slightly.
Investors will also be watching broader economic data for signals about inflation and the direction of the economy, which ultimately impacts where mortgage rates go next.
Lock or Float Bias
With mortgage rates showing some upward pressure, the current strategy leans toward a slight lock bias.
If you’re under contract or close to closing, locking in now can help protect against potential rate increases tied to ongoing volatility in oil prices.
For buyers with more time, floating may still make sense—but keep a close eye on the market, as conditions can shift quickly.
New Purchases Eligible for Free Appraisal Through 4/30
For a limited time, all new home purchase loans are eligible for a free appraisal through April 30.
This can help buyers reduce upfront closing costs and make their offers more competitive in today’s housing market. If you have buyers preparing to make a move this spring, this incentive can help them save money and move forward with confidence. Reach out if you are a homebuyer or a realtor that is working with a buyer that could benefit from this promotion, reach out to our team today!
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