NMLS #891464 · Equal Housing Opportunity
NMLS #891464 · Equal Housing Opportunity
Weekly updates on rates, Fed decisions, and economic news that affects your mortgage — from someone who's been watching the market since 2001.
National averages as of this week. Your actual rate depends on credit score, loan type, down payment, and property. Contact Enoch for a personalized quote.
⚠️ Rates shown are national averages for illustrative purposes only and are not a quote or commitment to lend. Rates change daily and vary by borrower. Contact Enoch Kim · NMLS #963641 · Edge Home Finance, LLC · NMLS #891464 for a personalized rate quote. All loans subject to credit approval.
The Federal Reserve held its benchmark interest rate steady at its most recent meeting, as expected. However, Fed Chair commentary suggested that if inflation continues cooling, rate cuts could come later this year — which would likely push mortgage rates lower over time.
For borrowers on the fence: this is the environment where locking in a rate now and refinancing later (if rates drop) can be the right strategy. Ask Enoch about float-down options.
The latest Consumer Price Index report showed inflation continuing to trend downward. Since mortgage rates are heavily influenced by inflation expectations, continued cooling could put downward pressure on rates in the months ahead.
A stronger-than-expected jobs report is good for the economy but can push mortgage rates higher — it signals the Fed may hold rates elevated longer. The mortgage market reacted with a slight uptick following the release.
A refinance makes sense when your monthly savings cover your closing costs within a reasonable timeframe — typically 18–36 months. With rates potentially heading lower, now is a good time to understand your current break-even point so you're ready to move fast when the time comes.
Many first-time buyers don't realize how many down payment assistance programs exist at the state and local level. In Virginia, New Jersey, and Delaware — Enoch's primary markets — there are programs that can significantly reduce what you need upfront.
Despite higher rates, real estate investors using DSCR loans continue to find cash-flowing properties — particularly in secondary markets. With DSCR available in all 50 states, portfolio growth hasn't stopped for the right deals.
The Federal Open Market Committee meets regularly throughout the year. Their decisions on the federal funds rate ripple directly through mortgage rates within days.
Released the first Friday of every month. Strong job numbers = upward rate pressure. Weak numbers = potential rate relief. One of the most market-moving reports of the month.
The Consumer Price Index is released monthly and is the Fed's primary inflation gauge. Lower CPI = more room for rate cuts. Higher CPI = rates stay elevated longer.
"I've been doing this since 2001 and I'll tell you — markets like this one reward the prepared. Rates are elevated, but they will come down. The question is whether you'll be ready when they do. That means getting your credit in order now, understanding what you can afford, and having a pre-approval in hand so when rates hit your target, you can move in days — not weeks. Don't wait for the perfect rate. Prepare for it. That's what I help people do every single day."