GCA Forums News for Thursday, July 2, 2026, Update Offers Clear, Reliable Insights into Recent Mortgage and Economic Trends Without Charts or Tables.

On July 2, 2026, mortgage news highlighted slower job growth, a drop in 30-year fixed mortgage rates to 6.43%, rising home prices, lower oil prices, and mixed market performance.

Mortgage News Today, Thursday, July 2, 2026: Jobs Slow, Rates Drop to 6.43%, and Home Prices Remain Stubborn<div>

GCA Forums Live National News Report | Thursday, July 2, 2026, | Updated After the U.S. Market Close

Recent economic data show a mixed outlook. Hiring is slowing, mortgage rates have declined, home prices remain high, gold prices have risen, and the Dow Jones reached a record high. Borrowers, sellers, and other stakeholders remain uncertain about future conditions. In June, 57,000 new jobs were created, but previous months were revised down by 74,000 jobs. The average 30-year mortgage rate dropped to 6.43%. Despite this, home prices and monthly payments remain at record highs.

June Jobs Report Bad as Mortgage Rates Offer a Tiny Break<div>

Payroll Growth Slowed to 57,000 Jobs

Job growth is slowing, but jobs are still being added. The Bureau of Labor Statistics reported 57,000 new non-farm payroll jobs. April was revised down to 148,000 and May to 129,000.

The unemployment rate increased to 4.2%. Average hourly earnings also increased by 3.5% relative to the prior year. This report does not indicate a recession but does show a slowdown in the job market.

As a result, consumer confidence may decline, leading to fewer home sales, reduced spending, and greater difficulty securing or keeping jobs and mortgages.

Mortgage Rates Decrease to 6.43%

According to Freddie Mac, the average 30-year fixed mortgage rate fell to 6.43%, down from 6.49% the previous week. The 15-year fixed rate also decreased to 5.79%.

While this modest drop does not greatly improve affordability, it may help some borrowers qualify by slightly increasing their purchasing power.

Not all lenders will offer a 6.43% rate. Your mortgage rate depends on your credit score, down payment, loan and property type, occupancy, debt-to-income ratio, and any additional fees. In June, the Federal Reserve kept its main rate between 3.50% and 3.75%. Currently, bond yields have a greater impact on mortgage rates than changes to the Fed’s rate.

Home Prices Continue to Increase, Despite a Split Housing Market</div><div>

Existing-Home Sales Increase

The Existing-home sales report showed a 3.2% increase in May, with a seasonally adjusted annual rate of 4.17 million. A report from the National Association of Realtors found that the median price of existing homes across national markets reached $429,300, a 1.3% annual increase.

Inventory Reached 1.55 Million Homes, Equal to a 4.5-Month Supply.

Previously, buyers had limited options. Now, they face high monthly payments, rising property taxes, and concerns about missing favorable mortgage rates. The housing market has slowed: new home sales fell 7.3% in May compared to April and are 6.8% lower than last year, according to the Census and HUD.

Builders have enough inventory for 10.3 months at the current sales pace, unlike the resale market. The national housing landscape is complex.

Some regions have stable home values, while others see price reductions, interest rate buy-downs, and seller-covered closing costs to encourage sales. For example, a typical monthly payment of $2,633 for a mortgage at 6.49% on the national median sale price set a new record for the month ending June 28, with a median sale price of $408,838.

Is There a Nationwide Housing Crisis

There is no nationwide housing crisis or broad return to affordability. Instead, the market is segmented: some sellers achieve record prices, many buyers remain on the sidelines, builders reduce prices, and many first-time buyers cannot purchase homes.

Inflation Continues to Put Pressure on Household Budgets.

CPI reports show that prices have risen by 4.2% over the year, and core CPI, which excludes food and energy, has risen by 2.9%. Energy prices have increased by 23.5%, and gas prices by 40.5%. Housing costs have also risen by 3.4%.

The June CPI report will be released on July 14 and will draw attention from mortgage markets, investors, the Federal Reserve, and families impacted by rising living costs.

In May, personal income and spending each rose by 0.7%, while the personal savings rate fell to 3%. Real consumer spending increased by 0.3%, showing that spending continued despite higher prices.

The New York Federal Reserve Reports on Household Debt

The New York Federal Reserve reported that household debt reached $18.8 trillion in the first quarter of 2026. The Federal Reserve also said more people are falling behind on credit card and auto loan payments than in the last 10 years, but late payments on mortgages remain low.

There is no clear sign of widespread financial trouble, but more families are beginning to feel financially vulnerable.

Expenses like car or home repairs, medical bills, or higher insurance and utility costs can quickly overwhelm some families.

The Next Energy Shock Might Be Right Around the Corner</div><div>

Turmoil Leads to Decrease in Oil Prices

Oil prices were not surging on July 2. Brent crude was about $71.80, and U.S. West Texas Intermediate was about $68.69. Both were lower than expected due to recent conflicts in the Middle East.

Current data confirm that oil prices are not surging. However, energy markets remain volatile and may change quickly if new threats disrupt shipping routes.

Recent discussions have focused on trade and Iran’s assets, but significant outcomes are unlikely amid ongoing uncertainty. Shipping disruptions can increase gas prices. Rising oil prices affect more than just investors. Higher energy costs increase inflation, strain monthly budgets, and can delay changes to Federal Reserve rates.

Gold Surges as Investors Seek Safety</div><div>

Metals Overview as of July 2

During afternoon trading, spot gold was around $4,116.54 per ounce, and silver traded around $60.69. Platinum was trading at around $1,617, and palladium at around $1,267. Gold futures settled around $4,125.70.

Gold prices are rising as concerns about inflation, war, currency instability, global debt, and interest rates grow. Although precious metals can fluctuate in value, investors often choose them when they lose confidence in other investments.

Gold Price Predictions and Interest Rates, Growth, and Risk

The World Gold Council states that the second half of 2026 will likely be influenced by geopolitical events, interest rate changes, and economic growth, which could affect investor behavior. Gold prices are not guaranteed to rise, but they will reflect market sensitivity during downturns and disruptions.

The Dow Jones Industrial Average closed at a record high near 52,900, up almost 1.1%. The S&P 500 was largely unchanged, while the Nasdaq Composite fell 0.8%, with the semiconductor sector under pressure.

This market behavior may confuse investors. While headlines highlight record highs in the Dow, the technology sector faces challenges. Both trends accurately reflect current market conditions.

A Market Crash Cannot Be Known Until It Happens

Record highs in the Dow do not always indicate the overall market is healthy, nor do they mean a market crash will happen. Predictions about when markets will fall are guesses, not facts.

In addition to monitoring market indexes, investors should consider the financial health of American households, businesses, and the broader market.

A record Dow close does not lower mortgage payments, reduce grocery costs, or make home purchases easier for first-time buyers.

Competitive Market</div><div>

Little Movement in Mortgage Applications

For the week ending June 26, mortgage applications rose by only 0.04%, according to the Mortgage Bankers Association. This shows some interest, but buyers remain cautious. The mortgage market is active but more selective. Individuals with strong credit, stable income, and substantial assets have a competitive advantage, while those with lower credit scores, higher debt, or unique circumstances face greater challenges.

A Mortgage Denial Should Start a Better Conversation

If one lender denies your application, it does not mean all lenders will. First, determine the reason for your denial. Common reasons include credit issues, high debt-to-income ratio, income calculation problems, property type, appraisal issues, insufficient savings, automated checks, or lender-specific rules.

GCA Forums members can improve discussions by sharing non-sensitive details such as state, estimated credit score, loan type, property type, down payment, employment type, and reason for denial.

Personal identifiers, including social security numbers, loan numbers, bank account numbers, or private documents, should never be posted publicly. The July 2 headline addresses more than declining mortgage rates; the key issue is whether rates can continue to fall without significant changes in inflation, oil prices, or global events.

GCA Forums Live

GCA Forums Live asks: Did the weak jobs report create a temporary window for lower rates, or will inflation and international developments limit this opportunity? Constructive discussions rely on factual information, borrower experiences, local housing data, lender guidelines, and substantive questions from those seeking to buy, refinance, keep their homes, or recover from denial. Productive conversations are based on facts, not panic.

What Happens Next After the July 4 Holiday?

Markets Closed Friday for July 4

U.S. stock markets will be closed on Friday, July 4, for the holiday. Investors and borrowers will return next week for updates on rates, inflation, and consumer confidence and Inflation

Data Will Set the Next Mortgage Narrative

The National Association of Realtors will release its next report on existing-home sales on July 9. The June CPI inflation report will be released on July 14. These two reports will likely shift expectations on mortgage rates and the housing market.

Frequently Asked Questions About Mortgage News Today</div><div>

Will Mortgage Rates Continue to Fall After the June Jobs Report?

Possibly, but nothing is certain. Weak jobs reports often lower mortgage rates if investors expect the economy to slow and inflation to fall. However, inflation, oil prices, government bond yields, and conflicts can push rates higher, as can the Federal Reserve.

Can I Get a Mortgage Rate Less Than 6.43%?

It is possible. The 6.43% rate is a national average, so some borrowers will receive a lower rate, while others will pay more. Your credit score, down payment, loan type, property, debt-to-income ratio, lender, and additional fees all affect your rate.

According to Recent Major Reports, Home Prices Are Not Falling in the U.S.

The price of existing homes and Redfin’s median sale price are both at all-time highs. However, local housing data show more variation. Some markets are experiencing larger price drops, and builders are encouraging sales by keeping homes listed longer.

Why are New Home Sales Declining with High Home Prices?

New construction and resales are distinct segments of the housing market. Builders often have unsold inventory and offer price cuts to encourage sales. In contrast, existing homeowners are often reluctant to sell because they have lower mortgage rates.

When is the Next CPI Inflation Report?

The June 2026 Consumer Price Index inflation report is scheduled for July 14, 2026. Because inflation affects interest rate forecasts, the mortgage market will be watching this report closely.

Is Gold a Safe Investment During an Economic Crisis?

No investment, including gold, is completely safe. Gold often rises in value during inflation or when people lose confidence in other assets, but it can also fall. Investors should understand the risks and avoid making decisions based on just one day’s price change.

What Should I Do After my Mortgage Application is Denied?

There are many reasons a mortgage application may be denied. Determine the reason for your denial and compare it with another lender’s requirements to see if you can still qualify for a home.

About GCA Forums News

GCA Forums News, sponsored by Gustan Cho Associates, offers users the opportunity to engage in productive discourse around challenging topics. Discussions include mortgage, housing, credit, real estate, and economic news.

Gustan Cho Associates is licensed to originate mortgage loans in 48 states, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands.

The availability of mortgage programs, rates, and approvals is subject to underwriting, investor guidelines, property eligibility, and state licensing requirements.

Rillet – Product Demo: The AI-Native ERP

Editorial note:

Public and recent market data as of July 2, 2026, was utilized to prepare this report. Due to the fluctuating nature of market pricing, this article is written for news and education purposes and is not designed to offer mortgage, investment, tax, or legal advice.

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What states require an NMLS licensed MLO personal residence needs to live within a set driving distance to the sponsoring mortgage company or a brick and mortar branch of the mortgage company. I heard there were 15 states with such distance from personal residence to brick and mortar NMLS COMPANY location. I know Wisconsin, Nevada, New Jersey, and Maryland are some of the states with maximum distance requirements. Also how much does applying for NMLS COMPANY. BRANCH, and Individual license cost.

• This discussion was modified 2 days, 17 hours ago by  Gustan Cho.

Case Scenario: How Should a Licensed Mortgage Branch Transition to a New Branch Manager?

Do you know anyone who can do Cashout Chapter 13 Buyout. January 2025 filed, four late payments, in the past 12 months. Value is $315,000, 80% cash out on current FHA loan, owe $30,000 for Buying out Chapter 13 Bankruptcy balance. Owes $178,000. Pennsylvania.

Have a very important question about HUD guidelines on originating FHA loans as a mini-correspondent lender. I am getting a lot of conflicting answers and hope you can help me to get to the bottom line. Many mortgage brokerage companies licensed in multiple states with a large size of NMLS licensed mortgage loan originators are also mini-correspondent lenders on FHA, VA, and conventional loans. Almost all mortgage brokerage companies offer both types of compensation, W2 and 1099 for its NMLS licensed MLOs depending on each state rules and regulations. One company in general, which I will call ABC Mortgage Broker, has all the necessary requirements to be able to become a HUD-Approved mini-correspondent lender on FHA loans besides being a mini-correspondent lender on VA and Conventional loans and a mortgage broker on FHA, VA, USDA, conventional, and non-QM loans. However, it is stopping them from becoming HUD approved mini-correspondent lender on FHA loans because someone has told them that you cannot be a mini-correspondent lender if you are paying your MLOs 1099 commission. About half the company gets paid 1099 and the other half gets paid W2s. Is there some truth behind this statement? I know for a fact certain companies, such as NEXA Lending, the Loan Factory, Barrett Financial Group are mini correspondent on FHA loans, and they have both 1099 and W2 MLO compensation. So who is right and who is talking out of their asses? Thank you in advance.

GCA Forums News Live: Mortgage, Housing & Market Crash Watch – July 1, 2026

GCA Forums News combines expert insights with reliable data on rates, housing, politics, and the economy. This guide explains how to organize metadata, headlines, and FAQs for the July 1, 2026, edition.

The July 1, 2026, edition of GCA Forums Live News covers mortgage rates, housing affordability, jobs, inflation, oil prices, stock markets, and recent political changes. NMLS-licensed experts share their insights in this report.

Mortgage/Living GCA Forums News: July 1, 2026, Crash Watch Edition

The U.S. mortgage and housing market faces big challenges that often don’t get enough attention in mainstream media. GCA Forums News, working with Gustan Cho Associates, offers clear, fact-based updates and data analysis for homebuyers.

We are one of the few NMLS-licensed news groups working in 48 states, the District of Columbia, and the Caribbean, known for approving loans that other lenders reject.

This edition uses a Mortgage Tabloid style with bold headlines and live forum comments, offering insights you won’t find elsewhere in financial news. GCA Forums is well known for expertise in non-QM loans, manual underwriting, and “make-sense” loans that turn denials into approvals. Unlike typical finance blogs, our NMLS-licensed experts cover real-life cases involving AUS, overlays, and rule-following, in line standards. Each GCA Forums Live News Report is clearly organized with headlines, timestamps, topic groups, and careful factchecking to help readers and search engines.

Today’s Mortgage Rate Shock – Why Buyers Feel Like It’s 1980s Lite

By summer 2026, average 30-year fixed mortgage rates are expected to stay higher than in the years after the pandemic. Monthly payments are putting pressure on both first-time buyers and those looking to upgrade. Even a small rate increase of 0.25% can stop deals, especially as property taxes, insurance, and HOA fees go up. Many buyers are choosing smaller homes, preparing for longer closing times, or turning to non-QM loans that most lenders avoid. Lenders are becoming stricter and adding extra requirements beyond the usual rules. This has made it harder for self-employed borrowers, those with recent credit issues, and people seeking high loan-to-value or investment loans.

Now, larger savings, higher credit scores, and more paperwork are common. FHA and VA loans are very popular. Even though affordability is tight, home prices remain high in many areas.

Sellers who locked in low rates during the pandemic are holding onto their mortgages, creating a ‘locked-in’ standstill. While inventory has increased since the early 2020s, supply is still limited in many places. Homes priced under $400,000 often lead to bidding wars. This split creates a two-tier market: sellers with realistic prices can sell their homes, while those holding out for more are left waiting.

Housing and Mortgage Market Update

In the Sunbelt, home prices have shown a wider range. Some areas show price declines, while Sunbelt markets now show a wild mix of home prices. Some areas are cooling, others are holding steady or climbing, all depending on local jobs and supply. Meanwhile, dormant Rust Belt markets offer a lifeline to buyers priced out of the coasts. Still, local economies, insurance, and property taxes continue to shape prices everywhere. CPI data says inflation has cooled, but many households feel the pinch. Housing, insurance, and basic services remain costly.

Americans report flat or falling real wages, while rent, utilities, food, and medical bills keep climbing, despite official claims of ‘good news.’ Many now question these reports, especially as shelter costs stay high.

The CPI keeps these costs baked into its inflation measure. Even where rents have dipped, most renters pay more than before the pandemic. Homebuyers often face mortgage payments higher than their rent, squeezing disposable income and savings—even for those with low or fixed-rate loans. remain low, job security has diminished compared to previous years. Many individuals rely on multiple part-time positions, gig work, or side jobs to meet financial obligations.

Job Market Update and Employment Numbers

Underemployment and workforce attrition are common among families seeking mortgages, with incomes often from 1099 work, ridesharing, gig delivery, and cash-based side employment. Traditional underwriting frameworks often lack the flexibility to document and approve such cases.

Financial Stress and Delinquencies Slowly Rise

While there is no clear mortgage crisis yet, rising stress on credit cards, auto loans, and other debts could cause problems if the economy weakens. More families are relying on credit cards and buy-now-pay-later plans to cover daily expenses, making it harder to save for down payments or closing costs.

This financial balancing act becomes riskier if work hours are reduced, side gigs end, or unexpected bills and higher gas prices hit, affecting finances across the economy.

Rising oil prices increase gasoline and diesel costs, which makes everything from groceries to construction more expensive. Building, repairing, or renovating homes now costs more due to higher transportation and material costs. These costs make it harder for renters and homeowners to afford living near their jobs, putting more pressure on both housing and transportation budgets.

Precious Metals & Safe Haven Assets

Gold, Silver, and the Fear Trade: Understanding Precious Metals and Trust Issues

As markets fluctuate and inflation rises, more people are turning to precious metals to protect their wealth. Retail investors, including potential homebuyers, see metals as a safe place to keep savings. When metals are used for long-term savings, trading slows because investors are less likely to move in and out. Precious metals do not provide housing or pay rent, but their growing popularity shows declining trust in financial markets and policymakers. Increased investment in metals can also affect housing demand and mortgage rates.

Market Bubble and an Imminent Crash

The Dow is rising, but many other parts of the economy are struggling. Major indices are hitting record highs, mostly benefiting the wealthy, while many people face challenges. This divide makes Wall Street seem disconnected from Main Street.

Big gains are concentrated in a few large companies and AI stocks, which hides the struggles of smaller businesses that reflect the real economy.

More people are investing in index funds for retirement, often ignoring the risks of sudden drops from weak earnings, rising rates, or global shocks. Uncertainty could further slow the housing market, making luxury homes cheaper but threatening job security. Realtors and loan officers can prepare by stress-testing budgets, maintaining cash reserves, and avoiding excessive borrowing. These steps help deals survive if the economy worsens.

Housing Policy and Politicians Under Fire

Changes in Down Payment Assistance, Student Loan Relief

GSE pricing, and credit scoring have made mortgage policies more political. Some programs help first-time buyers, while others increase costs for certain investors, potentially making the market more unstable.

Unclear policies make it hard for borrowers and lenders to plan long-term. Property taxes and zoning rules affect landlords and tenants.

While these rules protect tenants from big rent hikes and bad landlords, they also lower landlords’ profits. This might lead to less investment, poorer property upkeep, or landlords leaving the market, especially as maintenance, insurance, and compliance costs rise.

The Current Financial State of Americans

The Devastating Cost of Living Crisis: The Vanishing Margin for Error

Living Costs are funded by a paycheck. For many families, the cost of living, including rent or mortgage, utilities, insurance, groceries, transportation, and debt, uses up almost all their income. Little remains for emergencies or retirement, leading more people to become ‘permanent renters.’ Even with careful budgeting, economic pressures keep pushing more families into this situation.ation.

The Burden of Collections, Medical Debt, and Charge-Offs Hinder Homeowners

Even if your credit report has no recent issues, old collections, charge-offs, and medical debt can still prevent you from getting the best loans. Many people are surprised to find that paying off or disputing these debts might not help and can sometimes hurt their chances with lenders. Only an experienced mortgage team can say if these actions will actually help. A community like GCA Forums, led by NMLS-licensed experts, is well equipped to separate real credit repair from hype and guide you toward proven ways to improve your score.

GCA Forums Live: The Community, the Interactivity, the Virality

GCA Forums Live – The Only Mortgage Tabloid with Real Time Commenting

Daily and Holiday Live News with Real-Time

GCA Forums delivers fast, interactive financial news that stands out from old, passive news sources. GCA Forums News offers fast, interactive financial news every day, including holidays, setting it apart from old, passive news sources.

Mortgage and real estate experts answer questions and explain real-life situations, helping applicants learn with practical examples.

This interactive approach builds trust and loyalty while meeting today’s marketplace. The tabloid style shows bold opinions and real stories, highlighting the seriousness of the affordability and lending crisis. Every view is supported by data and regulatory knowledge, in line with Google’s expertise and trust guidelines. GCA Forums News delivers bold headlines and carefully checked reports, all backed by NMLS experts. Our unique style makes the housing market easier to understand and more interesting for everyone.

Time Updates

Google recommends real-time updates and clear organization. GCA Forums’ daily report includes detailed sections and clear headings, along with real-time forum interactions. Each section focuses on practical questions like ‘Can I Buy?’ and ‘Should I Refinance?’ This makes the report easier to search and more helpful for readers.

By posting new data, analyses, and forum threads daily, Google can see that GCA Forums is an active news source.

Real-World Expertise and Trust

GCA Forums builds trust through E-E-A-T by working with NMLS-licensed professionals, sharing real case studies, and clearly showing both positive and negative examples. Listing credentials in bylines, disclosing product limitations, and referencing official agency guidelines and economic releases help establish trust and credibility in the mortgage industry encouraging users to flag errors, ask for clarifications, and share their own stories. Constructive feedback is always welcome.

Frequently Asked Questions: GCA Forums Mortgage and Housing FAQs – July 1, 2026In 2026, Will Mortgage Rates Decrease?

Borrowers hope rates will return to the very low levels seen during the pandemic, but that is unlikely. Mortgage rates are more likely to remain high or drop only slightly, rather than return to their lowest levels. Balancing rates set by central banks to control inflation and encourage growth should lead to more efficient financial markets.

What Year is Best to Buy a House?

Negative headlines suggest 2026 is a bad year to buy a house, but your personal finances, security, and assets matter more. People who can afford the payments and plan to keep the house for several years will find good opportunities, especially in markets with flexible sellers.

Will the Housing Market Crash?

There are both similarities and differences to consider when looking at this housing boom. This cycle has brought back competitive buying, higher prices, less affordable housing, and more economic concerns. However, there is also more responsible underwriting and a wider range of investment activities. Because of these changes, a nationwide housing collapse is less likely, but we may see more local corrections, longer selling times, and price adjustments. A more detailed, market-specific approach will be needed. fic approach.

What Do I Do if I Am Denied by Another Lender?

If you are denied, first get your denial letter, which explains the reason for the denial, and take it to a more qualified, licensed lender. Look for lenders who understand manual underwriting and non-qualifying mortgage programs. Denials are often caused by overlays rather than core guidelines. Find lenders with fewer overlays, such as Gustan Cho Associates.

How Do Increasing Oil and Gas Prices Affect My Chances of Getting a Mortgage?

Oil and gas prices raise transportation and energy costs, which can worsen your debt-to-income ratio and lower the monthly mortgage amount an underwriter will approve. Lenders focus on your take-home pay after expenses. As living costs rise, it becomes more important to control expenses. Try to pay off debts, reduce discretionary spending, and keep detailed records of your income.

Should I Buy a Home Now, or Wait for the Stock Market?

Trying to time both the housing and stock markets is almost impossible. Crashes usually hurt rates and prices and can also affect your personal finances. It is better to make these decisions with a secure budget, a stable job, and enough time and savings to handle changes in both markets. both markets.

How Can I Participate into Join the Daily News Reports and Comment or Ask Questions?

Simply create a free account and subscribe to the daily and weekend live news threads. You can also post your own anonymous scenarios in the forums and get feedback from peers and NMLS-licensed professionals who moderate them.

Daily Members, Ready to Stop Doomscrolling and Take Action?

The Housing Crash Worse Than 2008 Is Already Here | Melody Wright

Join GCA Forums Live today and invite your friends to join as well. If you wait to join GCA Forums, you’ll miss out on advice from licensed mortgage experts and be left with the same old corporate news and AI-generated content. Bring your questions and feedback and join the live mortgage and housing news report today on GCA Forums. Good luck during the 2026 financial crisis.

• This discussion was modified 3 days, 19 hours ago by  Mark.

How Much Can You Gross Up on SSI, VA PENSION, RETIREMENT PENSION INCOME on FHA, VA, USDA, and Conventional Loans.

Do you know of any wholesale mortgage lenders that offer down payment assistance on FHA loans via manual underwriting? What are the eligibility requirements for the manual underwriting down payment assistance FHA loan program? Is it forgivable or non-forgivable? Is the DPA treated as a second mortgage and if so at what interest rate? I have many borrowers who want to purchase a house during Chapter 13 Bankruptcy repayment plan, and they will all be manual underwriting FHA loans.

Hello

A friend told me about your Non-Qualified Mortgages program, and I would like more information and to apply.

Your prompt response is appreciated!

There are so many reasons to love our pets including their unconditional love and loyalty. In my home I have always valued the bond my pups have had with my children. My babies are their babies, too.

GCA Forums News: Mortgage News Today June 30, 2026: Rates Near 6.5% and Falling Home Prices

GCA Forums Mortgage News June 30, 2026, mortgage news, rates near 6.5%, falling home prices, hot inflation, falling oil, and Q2 stocks up.

Mortgage News Today June 30, 2026: Mortgage Market Chaos Hits Housing, Inflation, and Wall StreetGCA Forums Live News | June 30, 2026, | Updated After Market Close

At the end of June, the mortgage market was unstable. Home prices dropped for the first time in a month, mortgage rates remained high, inflation rose slightly, and consumer confidence declined.

The situation is more complicated. Wall Street finished the quarter strong, oil prices fell after earlier increases, and the job market remained steady. Now, borrowers are asking if lower oil and home prices will help, or if ongoing inflation will keep mortgage rates high.

The Big Mortgage News: Rates Are Close to 6.5%

According to Freddie Mac’s latest weekly survey, the average 30-year fixed mortgage rate is 6.49%, and the 15-year fixed rate is 5.84%. Even though the 30-year rate is lower than last year’s, it remains high, making monthly payments difficult for many buyers.

Rate as their Personal Quote

A national average is just a starting point. It usually does not match the rate you will get. Your actual rate depends on factors such as your credit score, loan type, down payment, debt-to-income ratio, loan size, whether you live in the home, discount points, and lender fees. Smart buyers compare Loan Estimates rather than relying on a single online quote.

Freddie Mac reports that refinancing is on the rise, even as home buying slows down. This shows how borrowers are reacting to current rates. Still, refinancing is not the right choice for everyone.

Homeowners should consider when they will recoup costs, closing fees, current rates, and their future plans before deciding to refinance.

Home Prices Have Dropped

The Federal Housing Finance Agency found that home prices fell 0.1% from March to April but still rose 2.0% from last year. These numbers show the market is slowing down, not crashing. National averages can hide local differences: the Mountain region saw the biggest drop, while New England and the Northeast continued to rise. Smaller markets can have even bigger changes.

Price Increases Continue to Discourage Homebuyers

A small drop in home prices has not helped buyers much. High mortgage rates, a shortage of affordable starter homes, rising insurance costs, property taxes, and building expenses all add pressure. The home builders’ sentiment index fell to 35 in June and has stayed below 40 for 14 months, affected by expensive loans, limited materials, and less affordability.

Inflation Continues Crippling Household Budgets

The Consumer Price Index rose 0.5% in May and 4.2% over the past year. Energy prices jumped 23.5%, while food costs went up 3.1%.

Gas, Food, Housing, and Insurance Are All Real Pressure Points

Recent inflation numbers show why many Americans felt financial pressure in 2023, even when news reports sounded positive. For most families, the real economy is what they experience at the grocery store, not on Wall Street.

In May, the Personal Consumption Expenditures price index rose 4.1% from a year ago, while Core PCE inflation rose 3.4%. Watching Core PCE is important because persistent inflation can push Treasury yields and mortgage rates higher.

Oil Prices Are Cooling, Not Surging at the Moment

Earlier this year, oil prices shocked the economy, but now things are different. Brent crude dropped below $73, closing Tuesday at $72.92 per barrel. In June, oil prices fell more than 20%, and by 38% for the quarter, as traders reacted to a lasting ceasefire and the slow reopening of the Strait of Hormuz.

Earlier Oil Price Spikes

Even though oil prices are falling now, earlier spikes led to higher inflation in May. Energy costs went up sharply, raising prices for gasoline, transportation, goods, and business expenses. Lower oil prices could help reduce future inflation, but the relief will take time.

Jobs Are Holding Up, but Americans Feel Less Secure

In May, unemployment remained at 4.3%, and 172,000 new jobs were added, indicating a steady job market. Still, confidence is lower than in past years.

But Hiring Slowed

• Job openings in May remained at 7.6 million.
• Hires dropped to 5.17 million, suggesting that companies are posting jobs but being cautious about bringing on new workers.

Consumers Are More Confident, More Worried About Jobs

• The Conference Board’s Consumer Confidence Index went up a little, from 90.6 in May to 91.2 in June.
• However, more people said jobs are “hard to get,” with that number rising to 22.5%, the highest since 2021..

All Aboard the Wall Street Train, AI Stocks Are Driving

• The Dow Jones Industrial Average closed at a record 52,319.20.
• The S&P 500 gained 0.8% to 7,499.36, and the Nasdaq rose 1.5% to 26,213.72.

Record Highs, Why It’s Not a Crash

Rising inflation, higher Treasury yields, a focus on a few companies, and excitement about AI tech stocks have all raised risks on Wall Street. While these risks are real, the current situation does not point to a crash anytime soon. Be cautious about crash predictions, just as you would with any bold financial forecast.

Spot gold stayed near $4,027.00, closing at $4,022.90, while silver futures ended at $59.48. Both metals posted their biggest quarterly declines, hurt by a stronger dollar and the prospect of higher interest rates. Since gold and silver do not pay interest, they continue to face pressure.

Many analysts agree that gold is supported by the speculation of Central Banks, and perhaps Russia. Some analysts are lowering their year-end gold price targets because a stronger dollar and higher interest rates hurt gold’s outlook. The Wall Street Journal expects gold to end the year at $4,360, down $740.

Mortgage Rates Forecasts

Mortgage Rate forecasts are still uncertain. The affordability bill, called the 21st Century ROAD to Housing Act, aims to increase housing supply through manufactured housing, disaster recovery, new construction, and limits on big companies owning single-family homes. It has passed Congress and is waiting for President Donald Trump’s signature. This housing legislation will not bring instant relief to mortgage costs. Its main goal is to make housing more affordable by expanding supply, speeding up construction, supporting local lenders, and reducing investor activity.

What This Means for Mortgage Borrowers Tonight

Interest rates are unlikely to drop soon, and the housing market is not expected to improve quickly. If you are thinking about borrowing, make sure your mortgage payments fit comfortably within your budget.

Buying a home will not get easier unless the market changes a lot, which does not seem likely soon. Only refinance when the rate, loan terms, costs, and your finances all work in your favor.

If you have high debt compared to your income, past bankruptcies, self-employment, or unusual income, look for lenders who will carefully review your mortgage file instead of relying only on automated checks.

Mortgage Market Calendar: Upcoming Events

The June jobs report will be released on Thursday, July 2, at 8:30 a.m. EST. Mortgage markets will look at new jobs, the unemployment rate, wage increases, and any changes to past months’ numbers.

The Consumer Price Index, an important measure of inflation, will be released on July 14. This report could affect bond yields and mortgage rates.

Freddie Mac reported the 30-year fixed mortgage rate at 6.49% as of June 25, 2026. The rate you get may be different depending on your credit score, down payment, loan type, points, and property type.

Are Prices Falling Nationally?

No. FHFA reported a 0.1% drop in April, while prices rose 2.0% year over year. Some areas of the country are seeing price drops, but others are still rising.

Do Federal Reserve Adjustments Directly Impact Mortgage Rates?

No. Long-term Treasury yields and market ups and downs have more effect on mortgage rates. The Federal Reserve plays a role, but it does not set 30-year mortgage rates.

Can I Get a 6.49% Interest Rate from a Lender?

• No, that probably will not happen.
• Freddie Mac’s number is an average from a national survey.
• Your actual interest rate depends on your loan details, credit score, debt ratio, down payment, loan type, points, lender fees, and market changes on the day you lock your rate.

Are High Stock Prices a Sign of a Strong Economy?

• No, not really.
• Stock prices reflect many factors, such as expected employee pay, interest rates, investor confidence, technology spending, and more.
• Stock indexes can reach record highs even when consumers and workers are struggling, and housing gets less affordable.

Will Lower Oil Prices Translate into Lower Mortgage Rates?

• It is possible, but only if lower oil prices cause energy costs to fall, which in turn lowers inflation and Treasury yields.
• Unfortunately, mortgage rates do not directly track oil prices, and other factors can offset any benefit.

Will Waiting for Lower Rates Before Buying a House Be a Smart Strategy?

• That depends on your budget, job security, savings, goals for the property, and how long you plan to live there.
• Lower rates might come, but you could also face higher prices, more competition, and missed chances.
• What matters most is a monthly payment you can afford without financial stress.

Zillow reports shocking housing U-TURN. 40% losses emerge.

I was referred to you by Julio and Hector Munoz and Dimitri Slovek. I am reaching out in hopes that your team can assist my wife and me with obtaining a mortgage despite a unique credit reporting situation.

My wife and I filed a Chapter 13 bankruptcy on March 18, 2024. However, after carefully evaluating our financial situation, we made the decision to voluntarily dismiss the bankruptcy because we believed it was the best path forward. The bankruptcy case was officially dismissed and closed in April 2025, a little over a year ago. Rather than remain in a repayment plan for years, we chose to rebuild our finances independently, honor our financial obligations, and improve our credit.

Since that time, we have worked diligently to restore our credit and strengthen our financial profile. Today, our situation is as follows:

My Credit Profile

• The Chapter 13 bankruptcy is reporting only on my Experian credit report.
• I have one charge-off reporting only to TransUnion.
• I have no other negative accounts.
• All remaining accounts are current, paid as agreed, and in good standing.
• My credit scores are currently in the mid-600s.

My Wife’s Credit Profile

• The bankruptcy is reporting only on her TransUnion credit report.
• It has already been removed from her Experian and Equifax credit reports.
• She has no other negative accounts.
• Her credit scores are in the low 700s.

Our current lender has advised us to wait until the remaining bankruptcy tradelines are removed from the final credit bureaus before proceeding with our mortgage application. Unfortunately, despite numerous disputes and providing documentation from the bankruptcy court, PACER, and LexisNexis supporting our position, the remaining reporting has not yet been corrected. We simply do not know how much longer the credit reporting agencies will take to resolve these issues.

Aside from these isolated reporting issues, we believe we are strong mortgage candidates. We both have stable employment, strong and consistent income, several years of employment history with our respective employers, and an excellent recent payment history. Since the dismissal of our bankruptcy, we have been intentional about rebuilding our credit and maintaining responsible financial habits.

In addition to my professional career, I serve as the senior pastor of a rapidly growing church. As our ministry continues to expand, it has become increasingly important for my family and me to relocate closer to our church and congregation. Living nearer to the people we serve will allow me to better fulfill my pastoral responsibilities and be more present for the community.

We are not asking for special consideration; we are simply asking that our overall financial picture be evaluated rather than having our application delayed solely because of a bankruptcy that remains on one credit bureau due to an unresolved reporting issue. We are prepared to provide documentation regarding the bankruptcy dismissal, our income, employment, tax returns, bank statements, and any other information necessary to support our mortgage application.

If your team has experience helping borrowers in situations like ours, we would greatly appreciate the opportunity to discuss our options. We would be grateful for your honest assessment of whether you believe you can help us obtain financing despite these remaining credit reporting issues.

Thank you for your time and consideration. We sincerely appreciate the opportunity to present our situation and hope to have the privilege of working with your team.

The very first step on qualifying a mortgage loan applicant is initially have a phone interview. Buying a home is the largest investment for most hard-working people and consumers may think everything can be done online without any human contact. Many steps in the mortgage process can be done via electronic communication by email or text. However, the most important step in the mortgage process is the initial phone interview between the MLO and the borrower. We will cover the phone interview more in depth and detail on a later module. In this thread, I like to limit the topic of soft versus hard credit pull and how the qualifying credit score for a mortgage is determined. Unless the borrower needs to get qualified and pre-approved NOW and right NOW, I normally will do a soft credit pull. Initially, my loan officers and I normally do a single bureau soft pull. A soft pull will not show on your credit report as a credit inquiry and it will not drop your credit scores. From there, the mortgage loan applicant and I will go over the credit tradelines on the credit report. Things I look out for is credit disputes, credit utilization ratio, potential score improvements, errors in credit report, and prepare to maximize the borrower’s credit scores to get the best rate and terms on the mortgage loan. Once the mortgage loan applicant is credit and income ready and is ready to go shopping for a home, I then run a tri-merge credit report. Lenders use the middle credit score of a tri-merge credit report to determine the qualifying credit score for a mortgage. Please read the attached guide on tri-merge credit report to determine mortgage credit score:

Tri-Merge Credit Report to Determine Mortgage Credit Score

I’m an active-duty U.S. Navy First Class Petty Officer currently stationed in Japan and preparing to return to Mississippi.

I’m looking to purchase my family’s first home using my VA home loan benefit. My wife, son, and I are looking in the $240,000–$250,000 price range.

I’ve been watching your videos about VA loans for borrowers with lower credit scores and manual underwriting. I used your DTI calculator, and my debt-to-income ratio is approximately 41.8%.

Over the past few months, I’ve been working hard to strengthen my mortgage file. I recently resolved two collection accounts, I’m continuing to save for the home-buying process, and we currently have approximately $12,500 in savings.

I do have some previously reported late payments on my credit history, but all of my accounts are current today, and I’ve submitted goodwill requests to two of my creditors because those late payments resulted from autopay issues that I corrected as soon as I became aware of them.

Before I spend money on applications, I’d like to know if my file is something your team would realistically consider for a VA loan, and if so, what documents you would need from me to begin the pre-approval process.

Thank you for your time, and I look forward to hearing from you.

Best Mortgage Calculator | PITI, PMI, MIP, and DTI

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Best Mortgage Calculator | PITI, PMI, MIP, and DTI

The best mortgage calculator powered by GCA Mortgage Group is different than the competition due to PITI, PMI, MIP, HOA, and DTI features.

Can I Pay Off an Active Chapter 13 With an FHA Cash-Out Refinance?

I am looking for a mortgage lender or broker experienced with an FHA cash-out refinance during an active Chapter 13 bankruptcy in Pennsylvania.

My goal is not to take money out for personal spending. I want to explore whether a court-approved FHA cash-out refinance could pay off the remaining balance of my Chapter 13 repayment plan and combine everything into one affordable mortgage payment.

Quick Summary of My Situation

• Active Chapter 13 bankruptcy
• About $30,000 remaining in my Chapter 13 plan
• Current mortgage balance: approximately $178,000
• Estimated home value: approximately $278,000
• Estimated equity: approximately $100,000
• Current mortgage interest rate: 4%
• Primary residence located in Pennsylvania
• Stable full-time government employment with documented income
• Current mortgage payments are up to date.

What I Hope to Do

I would like to refinance my primary residence and use part of the available equity to pay the remaining balance on my Chapter 13 plan, subject to approval by the bankruptcy court and trustee.

I understand that replacing a 4% mortgage rate may not make sense unless the overall payment, closing costs, mortgage insurance, and long-term financial impact are carefully reviewed. I am looking for an honest preliminary review, not a quick quote.

Questions for FHA Lenders or Mortgage Brokers

1. Do you work with borrowers who are currently in an active Chapter 13 bankruptcy?
2. Do you offer FHA cash-out refinance loans with manual underwriting when needed?
3. Can refinance proceeds be used to pay a remaining Chapter 13 trustee balance if the court approves the transaction?
4. What credit, debt-to-income, equity, payment-history, and income requirements would apply?
5. Would my current 4% mortgage rate make this refinance impractical even if I qualify?
6. What documents would you need to review my eligibility?

Documents I Can Provide

I can provide my mortgage statement, Chapter 13 payment history, trustee payoff information, bankruptcy documents, court approval if required, income documentation, bank statements, and property details.

I would appreciate speaking with a lender or broker who understands FHA refinancing during an active Chapter 13 bankruptcy and can determine whether this is realistically possible before I move forward.

Thank you for your time.

HUD guidelines on FHA loans states that an active Chapter 13 does not automatically disqualify a borrower once at least 12 months of the repayment period have passed, payments have been satisfactory, and written bankruptcy court permission has been obtained. Final eligibility still depends on the court, trustee process, appraisal, equity, income, credit, and lender underwriting. (answers.hud.gov)

GCA Forums News for June 29, 2026-Mortgage and Housing News: Rates Near 6.5%, Wall Street Surges, Housing in the Headlines from Washington

This report is based on verified market-close data and government updates from June 29.

GCA Forums Live News Report | June 29, 2026-Powered by Gustan Cho Associates

Wall Street reached record highs, with the Dow Jones Industrial Average surpassing 52,000 for the first time due to a tech rebound. However, mortgage rates remain near 6.5%. Inflation is elevated, oil prices are rising, and monthly housing costs continue to challenge many buyers.

June 29, 2026, mortgage and housing news: Rate changes, oil market swings, inflation, sales, household debt, and a housing bill from Washington.

The news is mixed. While stocks are up and the housing market remains active, rising costs, debt, and inflation continue to affect buyers and homeowners.

Back as the Dow Breaks 52,000

The Dow Makes History, but Mortgage Borrowers Still Face Higher Costs

On Monday, the Dow Jones Industrial Average added 306.63 points and closed at a record 52,182.74. The S&P 500 added 1.2%, to close at 7,440.43. The Nasdaq rose 2.1%, to 25,820.14, and ended a five-day losing streak.

Stock market gains may appear positive, but they do not guarantee lower mortgage rates. Mortgage rates depend on mortgage-backed securities, government bond yields, inflation, and investor confidence. Home loans can remain costly even when stocks perform well.

Are We Heading for a “Severely Inflated” Stock Market?

A record market close does not indicate an impending crash. Markets can shift rapidly due to changes in inflation, oil supply, global events, or Federal Reserve decisions. Monday’s data reflected strong gains with no signs of a downturn. Mortgage rates remain close to 6.5%, though there is optimism in the market.

Freddie Mac’s Average Rate Remains a Major Affordability Hurdle

As of June 25, 2026, the 30-year fixed mortgage rate is 6.49%, and the 15-year fixed rate is 5.84% (reported by Freddie Mac). Freddie Mac notes a slight decline in home purchases, while refinancing activity increased as borrowers responded to current rates. Rates are only one factor; monthly payments also depend on home prices, down payments, taxes, insurance, HOA fees, credit, and the selected loan program.

Mortgage Applications Increase

The Mortgage Bankers Association reports a 1% increase in mortgage applications during the week of June 19. While this is a positive indicator, it does not necessarily mean homes are more affordable. Applications may rise even at higher rates if borrowers are refinancing for cash or seeking to secure a loan before further rate increases, secure a loan before rates climb.

Oil Prices Rise Again, and Conflict in the Strait of Hormuz Remains a Concern

Oil Prices Increased on Monday and Remain Below Previous Highs

As US-Iran tensions rose and uncertainty over shipping in the Strait of Hormuz escalated, oil prices increased on Monday. Brent crude hit $73.15 (up 1.61%), and West Texas Intermediate hit $70.75 (up 2.2%).

Rising crude oil prices impact transportation, shipping, retail, manufacturing, and food costs. Although prices are below previous highs, volatility affects consumer confidence and spending power.

Energy costs have significantly contributed to inflation, with May’s Consumer Price Index showing a 23.5% increase in energy expenses over the past year. While not all households are affected equally, markets respond quickly to oil-related developments.

CPI Rose 4.2% Over the Year

The all-items Consumer Price Index increased by 4.2% year over year, the largest annual rise in a year, and by 0.5% over the month, the smallest monthly increase in six months. Food prices rose 3.1%, and Core CPI, excluding food and energy, increased by 2.9%.

Inflation worries homebuyers because it leads investors to take more risks and pushes up bond yields. This can make mortgage rates rise, even if the Federal Reserve does not make any changes.

The price index rose 4.1% over the year in May, while Core PCE, which leaves out food and energy, rose 3.4%. Personal income and consumer spending increased by 0.7%, with a personal saving rate of 3.0%. The Federal Reserve kept the target federal funds rate at 3.50%-3.75% in June. The Fed expects 2026 PCE inflation at 3.6% and a year-end federal funds target rate of 3.8%. These are estimates, not fixed numbers, which is why markets have not expected very low mortgage rates.

The Housing Market is Booming, but Buyers are Still Feeling the Pinch

More Existing Homes Sell Despite Prices Being High

Existing home sales increased by 3.2% in May to a seasonally adjusted annual rate of 4.17 million. The average price was $429,300, up 1.3% from last year, with 1.55 million homes for sale, representing a 4.5-month supply. While home prices have not dropped significantly, affordability remains a challenge. Buyer activity is up, but monthly payments are still high in many regions.

Pending Home Sales Surge Suggests Buyers are Ready to Act

In May, pending home sales increased by 3.8% from April and by 4.8% year over year. In all four regions, contract signings increased.

Sales are increasing in many areas, but conditions vary by location. Some buyers have greater bargaining power, while prices continue to rise in competitive markets with limited inventory. National and regional trends matter, but individual decisions should be based on local prices, taxes, insurance, income, and mortgage options.

National Condition of American Households is an Important Narrative

Household Debt Reaches $18.8 trillion.

Household debt totaled $18.8 trillion in the first quarter of 2026. Mortgage debt totaled $13.19 trillion, credit card debt totaled $1.25 trillion, and auto and student loan balances totaled $1.69 trillion and $1.66 trillion, The data does not suggest an imminent financial crisis, but it does show that many households are facing higher debt, persistent inflation, and rising mortgage rates.

Importance of Monitoring Consumer Credit and Delinquencies

In April, consumer credit rose at an annual rate of 4.8%. Revolving credit, including credit cards, rose 10.4% annually. The New York Fed reported that 4.8% of household debt was delinquent at some point in the first quarter.

Mortgage delinquency transitions remained low relative to other consumer debts. However, serious mortgage delinquencies increased from 1.22% in Q1 2025 to 1.48% in Q1 2026.

The Employment Situation is Not as Bad, But the Labor Market is Still Concerning

Jobs Increased by 172,000 in May

In May, the U.S. economy added 172,000 jobs according to the non-farm payroll survey. The unemployment rate held steady at 4.3%, with 7.3 million unemployed. Employment in financial activities declined during the month. While 4.3% unemployment does not mean a recession, borrowers should carefully consider their job security, overtime, bonuses, and debts before buying or refinancing. using supply, has reached the White House after passing Congress.

This bill includes provisions to streamline the Environmental Review process, offer federal grants, and establish flexible regulatory frameworks for the use of prefabricated buildings.

Trump stated on Monday that he has not decided whether to sign the bill. If he does nothing, the bill will become law; the law sets a time limit for the president to act. Even if the bill is signed, it will not reduce mortgage payments immediately. Changes in local housing supply require time, so the bill’s effects will be seen later.

Supreme Court Prevents Trump from Dismissing Lisa Cook

The Supreme Court has prevented Trump from dismissing Lisa Cook, Federal Reserve Governor, from her position. In a separate ruling, the court expanded the president’s authority over most other independent agencies. The Cook decision is significant for markets, as the Federal Reserve’s independence directly affects inflation, interest rates, and the cost of borrowing. money.

This ruling will not disrupt the mortgage market, but it helps ease concerns about the Federal Reserve’s independence as inflation and long-term borrowing costs rise.

Gold closed at about $4,015.60 per ounce, down 1.79%. Spot silver closed at approximately $58.18 per ounce, down 1.48%. The 10-year Treasury yield rose to about 4.377%. Gold and silver prices often move when global tensions rise, but they are not reliable indicators of mortgage rates. Precious metals can lose value when Treasury yields rise or Federal Reserve policy changes, regardless of what is happening elsewhere.

JOLTS Report on Tuesday

The May Job Openings and Labor Turnover Survey will be released at 10.00 am Eastern on Tuesday, June 30.

June Jobs Report Next Major Mortgage-Rate Influence

The June Employment Situation report comes out on Thursday, July 2, at 8:30 am Eastern. The June Consumer Price Index will be released on Tuesday, July 14. Both reports could affect the bond market, mortgage rates, and Federal Reserve decisions.

Bottom Line: Buyers Need Accurate Information.

Monday offered some positive signs: the Dow reached a new record, stock indexes rose, oil prices rebounded, and housing demand remained strong.

Inflation remains above the Federal Reserve’s target, mortgage rates are near 6.5%, and many households are managing significant debt.

The way to borrow is not to wait for news about a crash, a big drop in rates, or quick fixes. Instead, look at your total monthly payment, compare written loan estimates, understand how points work, and consider your income, debt, credit, taxes, insurance, and long-term goals before deciding.

GCA Forums News provides coverage of events in housing and mortgages, consumer finance, and economics for education. This does not constitute investment, legal, tax, or personal mortgage advice of any kind.

Frequently Asked Questions

Do Gains in the Stock Market Mean Mortgage Rates Will Fall?

That is not the case. Mortgage rates are more closely linked to mortgage-backed securities, Treasury yields, inflation expectations, and long-term investor demand for bonds. Stocks can rise even as mortgage rates increase or remain elevated.

Does the Federal Reserve Set 30-Year Mortgage Rates?

No. The Federal Reserve sets short-term interest rate policy, while 30-year mortgage rates are primarily influenced by mortgage-backed securities and the long-term bond market. The Fed’s actions can affect mortgage rates, but only indirectly.

Why Do Oil Prices Have an Effect on Home Buyers?

Oil prices can influence gas prices and impact shipping, construction materials, and overall inflation. If energy prices rise and contribute to inflation, bond prices may fall, and mortgage rates may increase.

Is Home Prices Falling Uniformly Across the Country in 2026?

As per the most recent national data on existing home sales, the median price of existing homes increased by 1.3% from last year. There is evidence that some local markets are slowing or exhibiting more seller concessions. However, the most recent data does not show any evidence of a nationwide price freefall.

Can You Even Buy a House?

It is possible to buy a house, but affordability depends on more than just the interest rate. Buyers should consider the total payment, including principal, interest, taxes, insurance, mortgage insurance, HOA fees, and closing costs. Seller concessions, price adjustments, changing mortgage programs, or reducing debt may improve affordability may improve the scenario.

Why Can the Same Type of Mortgage Be Priced Differently Between Two Lenders?

Differences in loan programs, lender fees, discount points, Loan Level Pricing Adjustments, property type, credit score, debt-to-income ratio, and down payment can all affect the cost of the same mortgage. When comparing offers, review the Loan Estimates rather than just the costs.

What Economic Report Will Impact the Cost of Borrowing?

The May JOLTS data, due June 30, and the June Employment data, due July 2, will be closely monitored for their near-term impact. The June inflation data, released July 14, will also be watched for its effect.

What Exactly is Happening to the USA Housing Market Right Now?

This is a serious post. If you’re seeking financial assistance and have assets such as a HELOC, 401(k), or business ownership, feel free to contact me for legitimate business opportunities. Serious inquiries only via WhatsApp.

Seattle’s financial crisis is getting worse—and taxpayers may soon be asked to pay even more.

Seattle’s projected budget deficit has ballooned to nearly **$500 million over the next three years**, forcing newly elected Mayor Katie Wilson to consider difficult spending cuts, new taxes, and even an expansion of the controversial JumpStart payroll tax. While city officials point to inflation and weaker-than-expected tax collections, critics argue that years of progressive fiscal policies have left Seattle facing a structural budget crisis.

A new report from the Downtown Seattle Association paints a troubling picture. Since the JumpStart payroll tax was enacted in 2020, downtown Seattle has reportedly lost roughly **30,000 jobs**, office property values have plunged, and neighboring Bellevue has dramatically outperformed Seattle in both employment growth and commercial real estate values.

The concerns extend well beyond Seattle. Washington State has increasingly faced criticism from major employers over its tax and regulatory climate. In 2023, **Fisher Investments announced it was relocating its headquarters from Camas, Washington, to Texas**, citing concerns over the state’s long-term business environment after growing into one of the nation’s largest investment firms.

Meanwhile, Starbucks has also diversified its corporate footprint beyond Seattle, expanding executive operations and hiring in other states. Former Starbucks CEO *Howard Schultz* has repeatedly warned that Seattle’s political direction threatens the city’s economic competitiveness and recently criticized Mayor Katie Wilson’s approach to business and taxation, arguing that policies hostile to employers ultimately hurt workers and the broader community.

Can Seattle tax its way out of a nearly half-billion-dollar deficit, or will higher taxes simply accelerate the migration of jobs and investment to neighboring cities and other states? As Mayor Wilson prepares her first budget proposal, the decisions made in the coming months could shape Seattle’s—and Washington’s—economic future for years to come.

What do you think? Should Seattle focus on raising taxes, cutting spending, or fundamentally changing its economic policies?

Seattle’s financial crisis is a serious problem.

https://youtu.be/n3sILXWknVU?si=lCgjUIVnmuxofqWV

GCA Forums News: Weekend Edition for Saturday and Sunday June 27 and June 29, 2026

This weekend’s edition brings you the latest verified news through Sunday, June 28. Instead of adding to worries about a housing crash, we highlight the real story: today’s market is full of mixed signals.

In May, PCE inflation rose by 4.1%, new home sales dropped 7.3%, and new construction fell sharply by 15.4%. These changes have widened the divide in today’s housing market.

May’s data shows households are feeling more pressure. Jobs grew by 172,000, unemployment held at 4.3%, and 90% of adults reported concerns about rising costs.

Most markets stayed calm, but a sudden selloff in semiconductor stocks shook up the tech sector. Meanwhile, gold and silver gained ground late in the week.

Mortgage News Weekend Report, June 27-28, 2026: Inflation Reaccelerates, New Home Sales Fall, and Washington’s Housing Deal Stalls

Weekend mortgage news June 27-28, 2026: PCE inflation at 4.1%, near 6.5% rates, falling new home sales, stalled housing policies

Published: Sunday, June 28, 2026By: GCA Forums News Powered by: Gustan Cho Associates

Weekend market note: the US stock and precious metals markets were closed Saturday and Sunday. Market price references below are from the last regular trading session on Friday, June 26.

As June came to a close, the U.S. housing market faced new challenges. Inflation increased, mortgage rates stayed high, new home sales fell, and Washington’s Housing Bill stalled at a critical time for buyers and builders.

The market is now split: existing homes continue to sell, but new construction is slowing down. Buyers are watching their budgets closely and are less willing to stretch beyond what they can afford.

PCE Inflation at 4.1%

The latest Personal Consumption Expenditures (PCE) report gave the mortgage market more reason to be cautious. In May, the main PCE inflation rate was 4.1% year over year, while core PCE inflation, which excludes food and energy, was 3.4%.

Inflation influences long-term interest rates. Mortgage rates do not directly follow the Federal Reserve’s short-term rates, but ongoing inflation can push down Treasury yields and mortgage-backed securities.

Homebuyers waiting for lower rates will need to be patient. This report shows there is no sign that rates will fall soon.

Consumer Spending with Low Savings

In May, income and spending both increased, but savings stayed low at just 3.0%. This means many households could have trouble handling higher insurance costs, more debt, surprise bills, or a job loss.

The financial picture in the U.S. is mixed. Some households are managing well, but others are just one unexpected expense away from serious trouble.

The 30-Year Fixed Rate Is Stuck Close to 6.49%

For the week ending June 25, Freddie Mac reported the 30-year fixed mortgage rate at 6.49% and the 15-year at 5.84%, both a bit higher than before.

Now, buyers have a new challenge: instead of just waiting for lower rates, they need to understand their true monthly payment. When you add in taxes, insurance, HOA fees, and utilities, the real cost can be much higher than the listed price.

Your mortgage rate may be different from the national average. A mortgage quote is not a guarantee, since rates can change based on your credit score, loan type, property, debt-to-income ratio, loan amount, occupancy, discount points, and lender. When you compare mortgage options, look at more than just the rate. Sometimes, a lower rate with high upfront costs can make a loan less affordable, especially if you plan to move soon.

Market Is Divided with New Homes Slumping and Existing Homes Climbing

Existing-Home Sales Are More Positive than Expected

Sales of existing homes rose in May by 3.2% to 4.17 million homes over the year. The median price of existing homes nationwide went up 1.3% from last year to $429,300.

Inventory increased to 1.55 million homes, which is enough for 4.5 months. While this does not mean buyers have lots of options, many areas are calmer now compared to the intense bidding wars of the past.

Sellers should remember that pricing is key. Homes that are overpriced, not well presented, or in low demand will sit on the market. In-demand homes still attract buyers, even at higher prices. This pushback has led to a drop in new home sales.

May’s new home sales fell 7.3% from April and 6.8% from last year, with an annual pace of 580,000. Builders face a problem: they need to sell homes, but lowering prices can hurt profits and upset earlier buyers. Buyers should look beyond the price to perks like help with closing costs, rate reductions, upgrades, and appliances that can improve the deal.

Construction Slows, and Builders Hit the Brakes

Housing Starts Down More Than 15% in May

Housing starts fell 15.4% from April and 8.7% from last year. Single-family starts also declined, remaining steady, which means builders are still working amid cautious conditions due to high mortgage rates, rising costs, and uncertain buyer confidence.

Doesn’t Equal More Affordability

More new homes may come on the market, but affordable starter homes are still hard to find. Higher construction costs, zoning rules, land prices, insurance, and local fees make entry-level homes rare. In today’s rate environment, buyers in Illinois may have better luck than those in Florida, Texas, California, Arizona, Nevada, or the Carolinas.

American Budget Squeeze Is Real, but Not for Everyone Equally

Price Increases are a Widespread Concern

According to the Federal Reserve’s latest report on household well-being, most Americans are doing well financially and can meet their obligations. Still, rising prices are a major concern for many. It’s a complicated economy: millions are managing, but just as many are worried about paying for rent, groceries, loans, insurance, childcare, and medical bills.

Payroll growth came with a 4.3% unemployment rate in the latest labor report. Weekly jobless claims were relatively low. The next major labor report is on Thursday, July 2.

Employment is steady for now, but buyers should watch for Thursday. Markets are ready to react either way: strong job numbers could keep inflation and rate-hike concerns alive, while weak data could spark fears of a recession. Either way, expect bond and mortgage prices to change quickly.

Wall Street’s Unstable Tech Market Leads to a Weekend Review.

All three major stock indexes fell on Friday, with the biggest losses in semiconductor and tech stocks that had led the recent rally. This points to a possible market bubble. There is more risk when the market relies on a few large tech companies. If these companies drop, they can pull down the major indexes, even if the rest of the economy is steady.

10-Year Treasuries Dominate the Mortgage Market

The 10-Year Treasury yield ended Friday at 4.38%. Mortgage rates aren’t directly tied to this yield, but they usually move together. Any news about inflation, jobs, world events, or Federal Reserve actions can cause mortgage prices to change quickly.

Friday Evening Precious Metals Summary

Gold rose to $4,078, and silver reached $59 by Friday evening, both gaining as the dollar weakened and hopes for higher rates lessened.

Even so, gold and silver were under pressure all week. The possibility of a stronger dollar and higher rates continues to weigh on them, since neither metal generates income.

Factors That Will Influence Gold and Silver

The future of precious metals will depend on inflation reports, Treasury yields, Federal Reserve statements, the dollar’s strength, oil prices, and current news. Gold often performs well when inflation rises, global tensions grow, or there are currency concerns. However, strong yields and a strong dollar can quickly erase those gains. These factors will shape what happens next for precious metals.

Political Stalemate on Washington Housing Bill

What Happened Sunday with the Housing Bill

The bipartisan 21st Century ROAD to Housing Act cleared Congress, but the signing was delayed. On Sunday, House Speaker Mike Johnson said the bill would be sent to President Trump on Monday.

The bill seeks to improve housing supply, affordability, and access to financing by eliminating barriers that impede development. However, federal legislation should not be considered final until it is signed into law.

Why Buyers and Mortgage Professionals Should Care

A new housing bill will not lower payments right away. However, changes in building rules, permits, financing, and supply could make homes more affordable in the long run. The real test is whether lawmakers can turn these promises into real savings for working families.

Fraud Watch: Mortgage and Real Estate Scams Do Not Take Weekends Off

Never Send a Wire Based on Email Alone

Wire fraud remains a major threat in real estate. Scammers impersonate various parties and send buyers emails with new closing instructions, pressuring them to act quickly and send money.

Do not follow the closing instructions sent by email alone. Call a verified phone number and do not send money until a title company or closing attorney confirms the wire details.

Do Not Pay Upfront for “Guaranteed” Mortgage Relief

Mortgage relief scams often target homeowners who are struggling financially. Avoid companies that promise to stop foreclosures or late payments by offering loan changes or lower payments, especially if they ask for payment upfront—this is a major warning sign. Contact your mortgage company for real solutions and talk to a HUD-approved housing counselor if needed. Protect your deed, bank account, and mortgage. Never give your deed to anyone or pay a third party. Don’t act just because someone tells you to.

GCA Forums News Bottom Line for the Weekend

Buyers Need Payment Strategies, Not Rate Fantasies

Buyers should not wait for the perfect market. Focus on what you can control: know your payment limits, organize your finances, protect your credit, compare loan options, and negotiate for every possible discount.

Homeowners Are Watching Equity and Expenses

Homeowners should keep an eye on rising insurance costs, tax bills, consumer debt, and other changing expenses. While higher home values can help, it is important to be cautious. Using home equity should be part of a careful, well-thought-out plan. Lenders are more selective now and prefer simple applications. More complex cases need real solutions, not quick fixes.

Join the GCA Forums Discussion

GCA Forums News offers insights for everyone, from first-time buyers to everyday Americans, showing how today’s headlines affect your finances.

Join the conversation.

• What is happening in your local market?
• Do you have questions about mortgage guidelines?

Follow future GCA Forums News Reports for updates on inflation, housing, rates, jobs, politics, and consumer finance. Gustan Cho Associates specializes in difficult mortgage cases. These can involve a more extensive search for lenders, manual underwriting, or other loans based on program guidelines, credit considerations, and the availability of loans in specific states.

The Housing Market Just Sent A MAJOR WARNING…

• This discussion was modified 6 days, 3 hours ago by  Lori.
• This discussion was modified 5 days, 16 hours ago by  Sapna Sharma.

The Mortgage Underwriting Process

The homebuying process begins with pre-approval and concludes with underwriting. During underwriting, the lender reviews the applicant’s finances, employment, and property to confirm eligibility for the loan.

Although underwriting may appear complex, it is a standard component of the mortgage process. Its primary purpose is to evaluate the application and confirm the applicant’s qualifications.

What Is Mortgage Underwriting?

During underwriting, the lender examines submitted documents to verify that the applicant meets the loan requirements.

The underwriting review takes the following into consideration:

• Employment and income
• Credit
• The appraisal and the subject property
• Assets and the subordinated liability (if any)
• Once underwriting is complete and approval is granted, the applicant proceeds to the subsequent steps in the loan process.

Step 1: Loan Application And Initial Review

Underwriting commences upon submission of the loan application and all required documentation.

These documents may be any of the following:

• Stubs
• W2s
• Proof of taxes
• Statements
• ID
• Loan processors verify the completeness of the applicant’s paperwork before forwarding the application to underwriting. The underwriter subsequently reviews the credit report to assess historical credit management.

As part of the analysis, the underwriter looks at the borrower’s:

• Credit scores
• History of late payments
• Collections
• Charge-offs
• Bankruptcies
• Foreclosures
• Existing debts

The underwriter closely examines credit scores and credit management history. The lender also verifies that the applicant’s income is sufficient to cover the anticipated mortgage payments.

The income of the borrower can be in the form of:

• W-2 income
• Salaried income
• Hourly income
• Overtime and Bonus income
• Self-employment income
• Income after retirement
• Social Security. The underwriter applies the loan program’s guidelines to determine which portions of income are eligible and to confirm that earnings are stable and reliable.
• This is a standard procedure for most lenders.
• Income stability
• Lenders typically re-verify employment status prior to closing to ensure continued employment.
• They also confirm that sufficient funds are available for the down payment, closing costs, and other required expenses.

Assets that are evaluated include:

• Checking and savings accounts
• Retirement and investment accounts
• Gift funds
• Funds from sales of other assets

If bank statements indicate large deposits, the underwriter may request documentation verifying the source of these funds. The underwriter also reviews:

• Market value
• Condition of the property
• Comparable sales
• Safety and habitability concerns

If the property’s appraised value is lower than anticipated, the applicant may need to negotiate a reduced purchase price, increase the down payment, or explore alternative solutions. The underwriter also calculates the debt-to-income (DTI) ratio to ensure compliance with the loan program’s requirements.

This calculation includes:

• Housing payment
• Each loan program establishes its own DTI limit, although exceptions may be made for valid reasons.
• Lenders may also consider additional factors. other factors.

Most loans receive conditional approval rather than immediate final approval.

Common underwriting conditions may require the borrower to provide:

• New bank statements
• Additional pay stubs
• Letters of explanation
• Proof of asset transfers
• Verification for large deposits
• It is common for underwriters to impose several conditions, which typically do not indicate issues with the loan application.

Once all conditions are met, the underwriter issues a Clear to Close. This means:

• The underwriting process is finished.
• All conditions have been satisfied.
• The loan has been signed and is ready.
• At this stage, final documents are prepared. After receiving Clear to Close, applicants should avoid opening new credit accounts, making significant purchases, or altering financial circumstances until after closing.

Delays during underwriting can happen due to:

• Unverified income
• Employment gaps and changes
• Appraisal issues
• High Debt-to-Income ratio
• New debts
• Missing documents

Prompt submission of requested documents can expedite the underwriting process.

How Long Does Mortgage Underwriting Last?

The duration of underwriting depends on the lender, the type of loan, and the complexity of the application.

Typically, the time frame is:

• 1st review of the file = 24 – 72 hours
• Conditional approval = several days after the 1st review
• 1st full approval = 1 – 3 weeks after the Conditional Approval

Financing can take longer for complex cases, such as self-employed borrowers, multiple properties, manual underwriting, or unverified income.

Maintaining consistent financial habits during the review period can facilitate a smoother underwriting process.

Avoid:

• New credit accounts
• Unexplained large deposits
• New job
• Unpaid bills
• Maintaining financial stability helps prevent unexpected issues during underwriting.

Final Thoughts

Mortgage underwriting constitutes the final review before loan approval. The underwriter examines all details for accuracy. Prompt submission of documents helps ensure timely progress toward closing.

Role of Mortgage Underwriter During The Mortgage Process

CASE SCENARIO: ​I am selling my home and my proceeds from the sale of my home will be about $60,000 to $70,000 an my next home. My goal is to lower my mortgage payments. Can Gustan Cho Associates help me get approved for a home loan with a large down payment on a descent house with lower monthly payments?

How Can Dually Licensed MLO-Realtor Get Referral Commission and how does it work? The best way to ask my question in order to get the right answer is go over a case scenario. Let’s say I am a dually licensed mortgage loan originator and licensed real estate agent in Illinois. As a NMLS licensed mortgage loan originator, I am licensed in 40 states. As a licensed MLO, I can originate mortgage loans in states I am licensed in. However, as a real estate agent, I cannot represent homebuyers or home sellers in geographic areas where it is out of driving distance. I have heard as a dually licensed MLO-Real Estate Agent, I can originate a loan in a state I am licensed in such as Kentucky but since I cannot represent a homebuyer in Kentucky due to living in the Chicagoland area, I can refer my MLO client in Kentucky to another real estate agent licensed in Kentucky and get a referral fee. As a MLO, I cannot refer a borrower to another MLO in a state I am not licensed in due to RESPA violation classifies it as a kickback which is a form of mortgage fraud. However, real estate agents are allowed to refer homebuyers to another real estate agent licensed in a different jurisdiction and get paid a referral fee of 25% or more. Can you please help me understand how this works and can you please continue explaining using the above case scenario. Thank you.

Dually Licensed Realtor and MLO Career Opportunity

gustancho.com

Dually Licensed Realtor and MLO Career Opportunity

Dually Licensed Realtor and MLO are licensed real estate agents co-partnerning with experienced licensed loan officers representing same client

My credit scores are low. BUT I have 12 months of Chattel loan, 24 months of lot rent, and nine years with the same employer. Can Gustan Cho Associates help me? I found a house that I absolutely fell in love with.

Can Gustan Cho Associates help me qualify and get approved for an FHA loan with a 530-credit score? We have the 10% down payment.

Are there doctor mortgage loans 9ffered by banks, mortgage brokers, or mortgage bankers? I remember many years back fidth-third bank offered doctor home loans for MDs, DDS, DVM, DOs, DC. Thank you in advance.

Mortgage Market Alert: Inflation, Rates, and Housing News for June 26, 2026

By GCA Forums News Desk | Powered by Gustan Cho Associates | Friday, June. This week was tough for homebuyers. Mortgage rates remain near 6.5%, inflation continues to rise, new home sales are dropping, and a major housing bill is stuck because of political disagreements.

Mortgage market update for June 26, 2026: Rates are steady near 6.5%, oil prices are falling, inflation remains high, new-home sales are dropping, and housing policies are on hold.

There is a bright spot: more sellers are lowering prices, which has helped bring oil prices down. Still, the housing market is difficult. Buyers struggle with rising costs, sellers adjust, and lenders change their approach as conditions change.

Mortgage Rates Still Providing No Relief to Homebuyers

To keep the report accurate, two important updates were made. Oil prices dropped sharply on Friday after a rough week, while rumors of a Dow “crash” are still unconfirmed. Both are now marked as trends to watch rather than confirmed events.

The 30-Year Fixed Rate Still Hovering @ 6.5%

According to recent data from Freddie Mac, the 30-year fixed mortgage rate is 6.49%, and the 15-year fixed rate is 5.84%. Even though rates seem steady, housing is still too expensive for most. Today’s buyers are paying much higher monthly payments than those who bought when rates were lower.

The federal mortgage rate is influenced not just by Federal Reserve decisions. Other factors include mortgage-backed securities, government bond returns, inflation reports, global energy prices, and investor confidence.

The Fed Held Its Ground, but Inflation is Still the Problem

The Fed chose to keep its main interest rate between 3.50% and 3.75% this month. The Fed also said inflation is still too high and is caused by rising energy prices.

This means that until inflation is controlled, mortgage rates probably won’t fall for long. If high inflation continues, borrowers should not expect relief soon.

A New Warning to Borrowers and Homeowners

Fed’s Preferred Inflation Index Goes Up

The Personal Consumption Expenditures Index, an important measure of inflation, rose 4.1% compared to last May. This is bad news for the mortgage market. Inflation tightens household budgets and raises yields, which then push mortgage rates higher. For borrowers, these trends are worrying.

The Consumer Price Index Climbed 4.2% Over the Past Year

The Consumer Price Index rose 4.2% over the past year. Energy costs jumped 23.5%, and food prices also increased. With living costs going up, even families with steady incomes find it hard to save for a home because essentials like fuel, food, utilities, insurance, and housing take up more of their budgets.

Single-family homes showed a 7.3% decrease in sales, to a monthly adjusted annual rate of 580,000. The median cost of new construction reached $424,900 with a 10.3-month supply.

Not all builders are having trouble, but many say buyers are very focused on payment details. In many places, builders may need to offer incentives, lower rates, price cuts, or help with closing costs. These strategies are becoming necessary to keep sales going.

National Listing Prices are Declining, But Local Markets are not Aligned

The national average listing price fell to $429,500, down 2.4% from last year. As prices drop and homes become more affordable, sales are increasing, and homes are selling faster.

This does not mean home prices are crashing. Some areas still have strong demand and low supply, while others with more homes see prices drop. Buyers should look at local details like inventory, property type, taxes, insurance, and jobs instead of just national reports.

Mortgage Lending Is Choppy, Not Dead

Purchase Activity Took a Weekly Hit

During the short holiday week ending June 19, mortgage applications to buy homes fell 10.1% from the previous week. Refinance applications also dropped. But compared to last year, purchase applications rose 16.5% and refinances jumped 29.7%. These numbers show buyers react quickly to rate changes, but demand is still strong.

The tough mortgage market challenges everyone—lenders, builders, agents, and buyers. Still, people with steady jobs, low debt, good assets, and patience can find chances now.

A mortgage application shows the full picture: besides credit scores, lenders look at debt-to-income ratio, steady income, job history, assets, property condition, and loan approval rules.

Capitol Housing Watch: A Major Housing Bill Hits a Political Wall

Congress approved the new housing bill, but the signing was delayed. The bill aims to speed up certain housing-related environmental reviews and prevent big Wall Street investors from taking over the single-family home market. The planned signing was canceled. While Congress can move quickly on housing policy, progress often slows down when disagreements happen.

What the Bill Can Achieve—and What It Cannot Do in a Day

Increasing the long-term housing supply can really help. Speeding up development approvals, building more homes, and limiting big investors could benefit some communities over time.

No single law can quickly make housing more affordable or lower mortgage rates in just a month. Be careful. No law can fix housing costs or mortgage rates overnight.

Watch out for headlines promising quick solutions. On the plus side, supply concerns have eased, and shipping through the Strait of Hormuz is steady—a good change after energy price spikes caused inflation worries earlier this year.

Mortgage Rates are Unlikely to Drop in the Near Term

Why Housing and Energy Costs are Still Intertwined

Rising energy prices affect much more than just gas. They increase shipping, building materials, utility bills, and travel costs. Lenders consider all these expenses when deciding who can get a loan.

For buyers with limited budgets, these extra costs make owning a home even harder to achieve.

Swings on Wall Street and No Evidence of Imminent Crisis

Tech Sector and Chip Stocks Underperform

• Friday’s trading was far from smooth.
• The Dow, S&P 500, and Nasdaq posted small gains, but attention was on weakness in tech and chip stocks.
• This does not mean a crash is coming soon.
• Instead, it shows that investors are becoming more cautious after a period of rapid gains.

Indications for the Market

• No one can be sure when a market drop, recession, or rate change will happen.
• Predictions are only guesses.
• High market values, inflation, energy prices, global trade worries, and interest rates all make the market fragile.
• Homebuyers and mortgage holders should avoid big financial decisions based only on recent market changes.

The State of Gold and Silver Markets

Precious Metals on Friday

• By Friday afternoon, gold hovered near $4,078 per ounce and silver around $59 per ounce.
• Both looked set to end the week in the red.
• Gold and silver prices move based on the dollar, government bonds, inflation, world events, and Fed policy.
• The future of precious metals, a weaker dollar, global tensions, and falling government bond returns are connected.
• Higher expectations for rates, inflation, and rising bond returns could mean losses ahead.
• So, while gold and silver can give hints about the economy, they are not reliable for predicting mortgage rates or stock prices.

The Average American Is Still Feeling the Squeeze

Income and Spending Rose, but Saving Remains Thin

• In May, personal income and spending both rose by 0.7%, and the personal saving rate was 3.0%.
• These numbers show that households are spending more but saving less.
• Higher costs leave families less ready for a mortgage, especially if they face job loss, unexpected repairs, or rising insurance and rent bills.

Consumer Sentiment Improved, but Cost-of-Living Worries Remain

Consumer sentiment bounced back in June after slipping in May. Still, half of those surveyed worry about tight finances as costs climb. Many feels discouraged by scarce housing options, steep prices, and hefty monthly payments—even if they have steady jobs, good credit, and savings.

Economic Growth

Imports Rose While Exports Fell

With imports rising and exports falling, May’s U.S. goods trade deficit hit a new low and could drag down economic growth estimates for the second quarter. For prospective homebuyers and mortgage seekers, the economy is sending mixed messages.

Job growth is up but uneven, inflation remains a worry, housing expansion is patchy, and trade deficits add to uncertainty. Keep an eye on mortgage-backed securities and Treasury yields as markets reopen.

Watch oil prices to see if they hold or rebound. Look out for new housing policies from Washington. Track your local housing inventory, price cuts, and builder incentives. Most importantly, know your own numbers: credit, debt, income, down payment, savings, and target payment matter more than any headline.

Borrower Bottom Line from GCA Forums News

These are tough mortgage market conditions, but buyers aren’t expected to have near perfect credit or put down huge amounts with conventional loans.

• When looking at a mortgage, lenders consider your credit history, income, debt-to-income ratio, cash needed to close, the property, and the type of loan.
• The first answer from a lender isn’t always final, but approval is never guaranteed.
• GCA Forums News, from Gustan Cho Associates, is committed to monitoring trends in housing affordability, interest rates, policies, and key issues affecting American families’ finances.
• Readers are encouraged to share updates, ask mortgage-related questions, and stay informed.

Questions About Mortgage and Housing News

If the Federal Reserve Cuts Rates, Will Mortgage Rates Fall?

No, mortgage rates are not easily affected. In fact, the Fed’s rate adjustments may have little or no effect on mortgage rates. Inflation reports, Treasury yields, daily demand for mortgage-backed securities, and other factors may also influence rates beyond the Federal Reserve’s interventions.

Is Home Prices About to Crash Across the U.S.?

The current data shows no evidence of a national crash. Some markets do have lower list prices, higher inventory levels, and slower sales. Other markets remain competitive. Real estate conditions vary by geography.

Does a Lower Listing Price Mean a Lower Appraisal?

A lower listing price doesn’t guarantee a lower appraisal. Appraisals consider recent sales, the property’s condition, location, property improvements, and the state of the market. A listing price is the seller’s price. Appraisals are an opinion of the value based on the market.

Is it Smart to Wait to Buy a House Since Mortgage Rates Are Expected to Go Down?

The decision to wait makes sense for some households but not all. The potential money-saving future rate is weighed against home and rent costs, home inventory, and the household’s future plans.

Do Lower Oil Prices Mean Lower Mortgage Rates?

Not usually. Lower oil prices can ease some inflation pressures. However, multiple factors affect mortgage rates. One day of cheaper oil does not justify a lower mortgage rate the next day.

Why Do Mortgage Lenders Consider Inflation?

Higher inflation would generally cause higher yields on bonds and, in turn, higher rates on mortgage loans. Also, inflation affects a borrower’s budget, debt-to-income ratio, ability to save, and the comfort of their future mortgage payments.

Is This a Bad Time to Apply for a Mortgage?

It isn’t just headlines that determine if it is a good time for a potential borrower to apply for a mortgage. If a borrower can pay off debt, has an established, steady income, a low debt-to-income ratio, and an acceptable credit rating, it may be a good time to apply. For others, it may be best to wait until they pay off debt, save, and improve their credit.

It is important to reiterate that market data fluctuates and that these reports do not constitute lending, legal, or investment advice.

GCA Forums Live News Opening

“Good evening, America. With mortgage rates hovering around 6.5% and persistent inflation, the market isn’t improving. New home sales are on the decline and one of the largest housing bills has been suspended. The oil market is shaky and so is Wall Street, but the market isn’t our biggest concern.

Tonight, GCA Forums News covers these challenges for homebuyers, homeowners, and the average family struggling to get by with the current housing market.”

For CMS transparency. The key information was validated against the latest data from the BEA, BLS, Freddie Mac, and the US Census/HUD, as well as current housing market data. A statement for “the only news network NMLS licensed” was not included, as it is a unique marketing claim that must be substantiated with proof. The report’s market sections on consumer confidence, politics, and trade were verified against the latest information from Reuters.

The following sections were verified for accuracy: politics, consumer confidence, the market, metals, and trade.

Economic Report: Mortgage Rates FLIP | Housing Market WRECKED

The mortgage industry has gone through a complete overhaul after the 2008 Financial Crisis and the Real Estate Collapse. Never in history was the housing and mortgage industry impacted like it was in this ERA. The sub-prime housing market made it anyone with a pulse be able to qualify and approved for a mortgage loan. No-doc loans, stated income loans, and other alternative mortgage loan options were popping up from every corner. Mortgage brokers and mortgage loan originators ordered the home appraisals for their borrowers and it was easy to open a mortgage broker and become an MLO. The NMLS was non-existent, and the regulatory and licensing laws were not even a fraction of how strict and monitored is today. Literally, anyone can qualify, approved, and closed on a mortgage loan. Many Americans with average income, and low credit scores took advantage of the lenient homebuying and financing process. Bottom line is the entire residential mortgage industry is now over-regulated and you can count on being equally enforced above and beyond. Each section of the mortgage process has its own rules, regulations, and enforcement policies. One of the most important steps in the mortgage process is mortgage processing. The brand and reputation of a mortgage company and mortgage loan originator has a lot to do with the training, experience, knowledge, and role of mortgage processors and how the mortgage processing system is set up. There are two categories of mortgage processors and both classes of mortgage processors are strictly regulated and enforced.

1. In-House Mortgage Processors: Mortgage processor who is hired by the mortgage broker and/or mortgage lender. Compensation can vary on how the mortgage company’s compensation plan is. Processors can get compensated hourly, salaried, commission, per file basis, or a combination of salary/hourly/per file/bonuses. The cost of the mortgage processors are absorbed by the mortgage company and the cost of running a mortgage company. Remember, that the higher the overhead of a mortgage company and/or a mortgage loan originator is trickled to the borrower. The higher the cost of successfully originating and closing a mortgage loan, the higher the lender needs to charge the borrower. Costs of a borrower on closing a mortgage loan consists of the mortgage rate, third-party vendors of the mortgage company (appraisal, discount points to buy down rate, extension on mortgage rate locks, administrative fess, tech fees, credit reporting fees, mortgage loan application fees, and contract processing fees if applicable). The key for a top-producing mortgage loan originator who is nationally known to be among the best of the best is to have a great mortgage processor and processing team. Salaries of an experienced top mortgage processors can easily surpass six figures. The average mortgage processor today averages between $40,000-$80,000.

All this regulations come from the state and federal levels.

The second type of mortgage processing class are Third-Party Contract Mortgage Processors. Since 2015, the cost of running a mortgage company has been exponentially has been skyrocketing and competition among lenders have been and continues to be brutal. Per data and numbers from the NMLS, over 40% of mortgage brokers, lenders, and mortgage loan originators are no longer in business since 2022. With the combination of intense compounding rules and regulations, cost of NMLS licensing which includes continuing education, regular annual accounting and necessary paperwork requirements such as call reports, the cost of the random audits and examinations conducted by state, and federal regulators and agencies, cost of having in-house and/or third-party regulatory and compliance staff, and cost of owning, operating, and maintenance. There are other costs in running a mortgage company which is highly dependent on the size and volume the company does. Plus, the mortgage origination industry can, and often times, is volatile and highly reliant on the real estate and other financial markets. There are times where mortgage companies can have record low revenue periods and state and federal regulators and enforcement agencies require mortgage companies and MLOs to maintain the minimum mandated net worth requirements, good credit rating with no late payments or signs of financial irresponsibility, and mandate timely payments for all of the lender’s third-party vendors. Due to the high cost of doing business including skyrocketing price increases of running credit reports, CRMs and technology systems, AI, and due to intense competition, most mortgage companies and independent mortgage loan originators are cutting down on high cost expenses. One of the big ticket costs lenders are cutting is credit reports and mortgage processing. Lenders, especially independent mortgage loan originators, and independent mortgage net branch owners and managers who need to keep competitive rates for their borrowers and intend on staying in business offering very competitive rates are making changes on sending credit report links to their borrowers due to tri-merger mortgage credit reports increasing from $27.00 per tri-merged credit report to as high as $150.00 today. The credit report fees are disclosed on the the Loan Estimate and Closing Disclosure. On a more serious note, is it is legal, and compliant for mortgage companies to charge for third-party contract mortgage processing under certain strict condition which we will cover. A mom and pop mortgage broker cannot charge a borrower a processing fee with having their in-house processor do the work. In order to charge a mortgage processing fee as a third-party charge to the consumer and not absorb this high overhead, especially for a small one man shop operator, they need to use a contract processing company. The Contract Mortgage Processing Company needs to be licensed by the NMLS as a mortgage broker in each state they have mortgage loan originators giving them business. The individual mortgage processor working for the contract mortgage processing company generally does not have to have an active NMLS license. We will cover Contract Mortgage Processing more in detail in the next post.

Mortgage Processing Company – Why Contract Processing Services Work!

Chase, my long-coat black and red German Shepherd adolescence pup was born on January 25th, 2023. I purchased Chase on September 12th, 2023 when he was eight months old. I was searching Long-Haired German Shepherd dogs on Hoobly (highly recommend this website if you are shopping for dogs) and found Dan Ivenovic, a breeder of German Shepherd and Doberman Pinschers – all German bloodlines and exotic rare long hair French Bulldogs). Dan Ivenovic is based in Deerfield, Illinois, which is 30 minutes from where I live. I talked back and forth with Dan Ivenovic for a few days over the phone about maybe getting two long-coat German Shepherd dogs and a time and date for seeing the dogs. On September 12th, 2023, Dan said he can drop the dogs to may house to see them and if I like them, I could purchase them. I told him that I just want one German Shepherd dog because the German Shepherd I am buying will be my 12th dog so just to bring one. Just so everyone knows, I do have 12 dogs and they are all inside dogs. At the time my wife and I had 11 dogs (Dog #1 Female Pit Bull that was a rescue where I had to adopt or the previous owners were moving to Florida and could not take her and a male Pitbull. The male Pit Bull, my friend and fellow loan officer Jose Morales adopted. Dog #2: Stella is a 8 year old grey female Standard Poodle who is a rescue. Stella and dozens of dogs were confiscated from a large puppy breeding mill by the Sheriff’s Department in Central Wisconsin. Stella was abused, undernourished, and was about to get transported to a kill county animal shelter. Dog #3: Four year-old French Bull Dog – Adopted last year from Highland, Illinois. Dog # 4: Five-year old four pound toy poodle. Dog #5: Five-year old five pound Yorkshire Terrier. Dog #6 and Dog #7: Five year old Boston Terrier brothers. Dog #8 eleven year old toy poodle. Dog #9: Five-year old toy poodle. Dog #10: Six-year old Schiz Szu-Pomeranian mix. Dog #11: Six-year old three pound Chihuahua. Chase makes it dog #12). So, when I adopted Chase, he was eight months old. He was very skittish, was not leash trained, was semi-potty trained, did not know how to sleep on a dog bed, did not know nothing about toys, did not know how to walk and down the stairs, did not know human food, ice cream, or treats, did not know how to walk into different rooms through a door, did not know how to get in and out of my truck, and did not know many things a normal eight month dog should know. I had to take him to the vet every other week because of warms and a stomach parasite which took six months to treat. Anyways, I spent a lot of time with him. Taught him the basics, took him for rides, introduced him to toys, and soon he started coming around. All his four-legged furry brothers and sisters eventually welcomed Chase into their group and he became part of the family. We also have three unfriendly skittish rescue cats. Chase gets along with everyone and doesn’t mind the little ones snapping at him or disrespecting him by stealing his toys or food. Eventually, Chase choose a red 16 inch ball as his favorite toy. He brings his red ball throughout the day to take him out to play fetch. I disregard him many times because I am in the middle of something to do for work. He then picks up his ball and drops it to me. He continues to do this half a dozen times and if I disregard him, he will pick up his red ball and throws it to me. I ignore him, his next move is he will pick up his red ball and hands it to me and while he is doing so, you can see the whites of his eyes. NOW, HOW CAN I SAY NO TO HIM. I then change my clothes to take him out so we can play catch one on one. I need to take him out of the house to play fetch because if I take home to the back yard, we get disrupted from the other dogs. When we both had enough, we both go back in the house. Not once does Chase let his red ball out of the house. I bought other similar balls for Chase but he only wants his beat up red ball. The point for this story is you will see pictures of Chase and most pictures Chase has his red ball

with him. German Shepherds are the best dog breed I have had. My first dog, Jeannie, was a female German Shepherd I had when I was a freshman in high school. My best friend, loyal, and was always with me wherever I went. I will save that story for a different separate thread. I highly recommend German Shepherd breed for those people who want to get a dog for their family. Many people think German Shepherd dogs will not get along with small dogs, cats, and children. NOT TRUE. I will explain my interactions with other people when I have Chase with me on separate posts. Here are some more photos of Chase.

• This discussion was modified 1 year, 10 months ago by  Gustan Cho.

Chicago Democrats TURN ON Mayor after he blames deadly weekend on slavery. This comes as residents are now signing petitions to get the CPD and the Mayor to lock up repeat offenders. However, the mayor is more concerned with blaming slavery for why black kids in Chicago continue to be killed.

https://youtu.be/EsFc7gqPlEA?si=q4pWv-iSQXODh9yU

The report sounds urgent but does not predict a stock market crash or a nationwide housing collapse. Today’s data show growing affordability issues, ongoing inflation, and a shaky housing market. Still, these problems do not guarantee a downturn.

June 25, 2026, mortgage and housing market update. Includes 6.49% rates and analysis of May’s inflation, home sales, jobs, oil, stocks, and related market factors.

GCA Forums News: Mortgage Housing News June 25, 2026

Mortgage and Housing News: June 25, 2026By GCA Forums News Staff

Powered by Gustan Cho Associates: Updated Thursday Evening, June 25, 2026

• Today, Americans face a mix of economic signals.
• Mortgage rates went up, and inflation once again was higher than the Federal Reserve’s target.
• New home sales dropped, while oil prices rose because of unrest in the Strait of Hormuz.
• However, may saw job growth and more existing home sales.
• Despite these changes, Wall Street remained steady.
• The outlook remains uncertain for buyers, sellers, lenders, and investors, prompting greater financial caution.

Mortgage Rate Alert: The 30-Year Fixed Rate Moves Back to 6.49%

This week, the average 30-year fixed mortgage rate reached 6.49%, while the 15-year fixed rate averaged 5.84%. Even a small, steady increase in rates can quickly reduce the number of qualified buyers, making homes less affordable.

National Mortgage Rates Are Not Your Exact Rate

A national mortgage rate does not mean every borrower will get that rate. Factors like credit score, loan size, loan type, where the property is, whether it’s occupied, debt compared to income, property type, discount points, and lender rules all affect the final rate.

Prospective borrowers should review the full Loan Estimate, as the overall loan structure may reduce long-term costs. Sometimes, higher interest rates are balanced by lower upfront costs.

Inflation Is Back in the Spotlight After a Hot May Report

• Inflation is still a major concern, especially since it affects mortgage rates.
• The Fed’s main focus is the PCE report. In May, it was up 4.1% year over year. Core PCE was up 3.4%.
• On a monthly basis, overall PCE rose 0.4%, and Core PCE increased 0.3%.

CPI Also Shows Energy Is Still Hurting Household Budgets

The CPI indicates energy prices rose 23.5% year over year, contributing to a 4.2% overall increase and impacting household budgets.

Costs kept climbing, with food prices stubbornly high. Costs kept rising, and food prices stayed high. For many families, these expenses are difficult.

Qualifying for a mortgage depends on more than just salary. It requires balancing income, housing costs, debts, insurance, taxes, and other monthly bills.

The Housing Market Is Split: Existing Homes Rise While New Homes Fall

• The housing market is moving in two different directions.
• In May, existing home sales climbed, but new home sales slipped in the opposite direction.
• This difference explains why national headlines can be misleading. In some cities, prices are falling, and builders are offering deals.
• In other places, buyers compete for a limited number of listings and face high monthly payments.

Existing-Home Sales Soar to 4.17 Million Annual Rate

In May, existing home sales rose 3.2% compared to both the previous month and the same month last year. The median price for existing homes is $429,300.

There were 1.55 million homes for sale, enough to last 4.5 months. That’s more than during the worst shortage, but still not enough for most first-time buyers.

The South and West stayed expensive, though the West’s median price dropped slightly from last year.

New-Home Sales Decline While Builder Inventory Increases

New single-family home sales fell 7.3% in May to an annual rate of 580,000. Builder inventory increased to 496,000 new homes, a 10.3-month supply. The median price for new homes is $424,900.

In this market, buyers have more negotiating power. Builders with many unsold homes are willing to offer help with closing costs, rate buydowns, upgrades, or price cuts.

Still, buyers should consider these perks along with the total costs, monthly payments, taxes, insurance, association dues, and loan terms.

Jobs Are Holding Up, But Many Americans Are Still Stressed About Money

The latest monthly employment report shows that 172,000 jobs were added in May, and the unemployment rate remained unchanged. This does not suggest the job market is collapsing.

Still, the numbers show ongoing concerns. Long-term unemployment is still a problem, and people affected by layoffs or career changes are taking longer to recover.

For families hoping to buy a home, these income gaps can make it harder to get a mortgage. For the week ending June 20, first-time unemployment claims dropped to 215,000, suggesting layoffs are declining. However, continuing claims rose to 1,821,000, showing that some people are taking longer to find new jobs. One weekly report does not show the full picture of the job market. School schedules, weather, and seasonal changes all affect unemployment claims. For lenders, investors, and the Federal Reserve, the labor market will remain a main focus in the coming months.

Renewed Concerns Over Security in the Strait of Hormuz Send Oil Prices Soaring

Fresh security fears in the Strait of Hormuz sent oil prices soaring after news broke of an attack on an Omani cargo ship. Crude oil shot past $71 per barrel.

Oil prices have fluctuated widely this year, falling when peace seemed possible and rising quickly amid new shipping threats.

These changes are concerning because energy prices affect transportation, food, and manufacturing costs, which then influence consumer spending.

The Ripple Effect of Political Unrest and Its Impact on Mortgages

Any disruptions to shipping in the Strait of Hormuz, a key oil route, will affect energy prices, inflation, U.S. Treasury yields, and mortgage costs.

The U.S. Senate also passed a War Powers Resolution this week, telling the President to stop hostilities with Iran. The White House says this vote has no real effect. For homebuyers, global news can quickly affect the U.S. mortgage market.

Wall Street Closes Mixed as Investors Balance Concerns with Profit Taking

The stock market had a mixed close on Thursday. The Dow Jones inched upward, but the S&P 500 and Nasdaq slipped as technology stocks faced stiff headwinds.

People still discuss whether AI and tech stocks are too expensive. Some worry about bubbles, but these concerns alone do not mean a market crash is coming soon.

Anteed Stock Market Crashes Cannot Be Fact-Checked.

The market can correct. The market can be bullish. The market can remain overvalued for an extended period. Bold predictions of a certain crash need solid evidence. Responsible reporting avoids causing panic without proof. The market’s mixed results show caution and volatility, not a sudden collapse.

Market ups and downs are normal. It is smart to keep an emergency fund, avoid debt in case of unexpected events, and remember that emotions often influence the market more than logic.

Predicting prices and precious metals is always uncertain. Recent inflation reports show gold rose above $4,000, and silver, platinum, and palladium also increased. Changes in inflation, global conflicts, interest rates, the dollar’s value, and ‘safe-haven’ investor activity all affect demand for precious metals. These markets react quickly to news headlines.

Where Gold is Headed is Anyone’s Guess

• Gold continues to defy prediction.
• Some experts think high interest rates and a strong U.S. dollar will push gold prices down.
• Others expect central banks to buy gold, new political risks, and possible rate cuts to keep gold prices up.
• This difference shows how uncertain predictions are.
• No forecast should be taken as a sure thing or personal investment advice.

Budgets Are Getting Tighter, But Income Is Increasing

The numbers show that personal income and consumer spending both went up in May. Still, inflation continues to reduce household budgets. The personal savings rate in May was 3.0%. Household debt at the end of the first quarter was $18.8 trillion, with mortgage balances over $13 trillion. Many households have less financial flexibility, though not everyone is struggling. With gas, food, rent, insurance, taxes, and debt all rising, many families have almost no room for mistakes.

High Housing Costs are the Core Problem of Affordability

• The central question in housing is not availability.
• The core issue is whether buyers can afford their payments.
• A buyer might find the perfect home but be turned down if the payments are too high because of mortgage interest, taxes, insurance, HOA dues, car loans, student loans, or credit card debt.
• Smart buyers start planning for a mortgage before they begin looking for a house.

Homebuyers and Mortgage Borrowers: Analysis of the News of the Day

• The mortgage market remains difficult, with high rates and inflation above the Fed’s target.
• Oil price shocks and political issues add more uncertainty, and home sales vary across the country.
• However, buyers are finding opportunities in some markets, especially where builders have extra homes or sellers want to sell quickly.
• Some homebuyers may want to wait for lower rates, but waiting has its own risks.
• Rates may go up, inventory may go down, and buyers’ credit, job, or debt situations could change.
• The chance to get a better mortgage rate could be lost.
• Most successful borrowers are well-prepared and understand their credit scores, mortgage costs, and loan options.

What is the GCA Forums News Focused on Next

• The key jobs report will be released on July 2, and the Consumer Price Index on July 14.
• GCA Forums News will continue to monitor mortgage rates, loan program changes, housing market trends, consumer affordability, employment, inflation, and other factors affecting American homebuyers.

Most Popular Answers

Will a Higher Inflation Report Push Mortgage Rates Up Tomorrow?

Not exactly. Inflation affects mortgage rates indirectly by influencing bond markets and Federal Reserve expectations. However, mortgage pricing is dynamic and influenced by Treasury yields and mortgage-backed securities, lender appetite, global news, and a host of other market conditions.

Why is There a Gap Between the Federal Reserve and Mortgage Rates?

The Federal Reserve controls only a short-term benchmark rate, and most 30-year mortgages are tied to long-term bonds and mortgage-backed securities. Fed rates do set the ballpark for mortgage rates, but they will never set the exact rate a borrower will pay.

Can Falling Oil Prices Bring Down Mortgage Rates?

Falling oil prices bring down inflation, increasing long-term investments, but only marginally affect mortgage rates. Even then, mortgage rates are influenced by a sea of other factors, including employment reports, inflation, Treasury yields, global conflict, investor appetite, and lender pricing.

What is Causing the Inverse Relationship Between Sales of New and Existing Homes?

New home sales depend on signed contracts, whereas existing sales are reported after the home closes. Additionally, builders can incentivize purchases in ways unavailable to traditional sellers. Since the reports capture different segments of the market, they can inherently move in opposite directions.

Are Home Prices Falling Across the United States?

No, housing trends are not the same everywhere. Pricing changes and inventory shifts vary by city, state, price tier, and property type. Some markets are showing price declines and increasing inventory. Other markets continue to have shrinking inventory and stable or even rising prices. Buyers should consider local data rather than generalizing the entire country.

Is the stock market guaranteed to crash?

No, there are no credible claims of a guaranteed market crash. Valuations, inflation, interest rates, debt, and geopolitical concerns are all worries for investors, but none of them justify expecting a crash at any given time.

What Should a Buyer Compare When Shopping for a Mortgage?

Buyers should consider the interest rate, APR, lender fees, discount points, cost to close, monthly payment, mortgage insurance, prepayment terms, and the estimated closing date. Loan Estimates should be provided to allow for a fair comparison.

Editorial Note:

• This report is for education and news.
• Mortgage rates, market prices, and loans are dynamic.
• Pricing and terms are dependent on the full application, the property, underwriting, and lender requirements.
• For a publication, add a real name byline, NMLS number, a visible edit time, source links, and a reviewer name.
• Google prefers a people-first approach, authentic titles, no exaggeration, original research, and clear authorship when covering financial topics.

Fact-Check Source List for Your Editor:

Current Mortgage Averages:

• As of June, the 30-Year Fixed Rate averaged 6.49% and the 15-Year Fixed Rate 5.84% according to Freddie Mac.

Inflation and Consumer Spending for May:

• PCE inflation was 4.1%, core PCE was 3.4%, and the savings rate was 3.0%.

CPI:

• Consumer prices were at a 4.2% year-over-year increase, with energy at a 23.5% increase in May.

Housing:

• Existing-home sales surged to a 4.17 million annual rate while new-home sales fell to 580,000, which was a 10.3-month supply.

Jobs:

• May saw a payroll increase of 172,000, with unemployment unchanged at 4.3% and initial unemployment claims falling to 215,000.

Household Debt:

• In Q1, total household debt was reported to be $18.8 trillion.
• Balances on mortgages made up $13.19 trillion.

Oil, Precious Metals, and Markets, as well as Political Developments in Iran:

• Reuters and AP covered Thursday’s market volatility, which included oil, gold, and silver, and a mixed close for US markets, along with the Senate war-powers vote,

The BIGGEST Housing Market LIE BEING TOLD RIGHT NOW