Yabba Dabba Doo or Don't! Are Mortgage Rates Finally Taming the Beast?!

Mortgage Rates? More Like Mort Boring Rates!

Yabba Dabba Doo! Fred Flinstone here reporting live from… well my stone house in Bedrock! Seems like those fancy pants mortgage rates are barely movin'. Like Wilma trying to parallel park the Flintmobile – a whole lotta nothin' happenin'! They say folks are worried 'bout the economy and that's keepin' them from borrowin' money. Makes sense; who wants to be stuck payin' a bronto sized loan if they can't even afford a slab of ribs at the drive in?

Applications Take a Tumble... Like Me After Bowling!

Now get this: mortgage applications went down 1.6% last week. That's like my bowling score after Barney fills my ball with rocks! And the average interest rate for those 30 year thingamajigs is 6.70%. What in the tar pits is a basis point?! I tell ya this is enough to make a caveman’s head spin!

Refinancing? Fuggedaboutit!

Refinancing applications? Down 6%! Higher than last year but who cares when the rates are higher than a pterodactyl flyin' over Bedrock?! Back when Covid hit everyone was refinancin' like crazy. Now nobody can benefit. It's like tryin' to sell ice to an Eskimo… or maybe a rock to a Flintstone heh heh!

Home Buying: A Glimmer of Hope?

But hold on to your Dino leash! Applications to buy a house are UP 2%! Highest since January! Looks like the missus ain't the only one who likes buyin'. Maybe folks are finally findin' homes that aren't made of mud and bones. And the inventory of existing homes for sale is increasing. A positive development for the housing market?! Yabba Dabba Doo…maybe!

Tariffs and Tribulations: The Market's a Mess!

Seems like those fancy tariffs are keepin' the markets all confused. Makes me want to grab my club and go back to simpler times when all I had to worry about was gettin' to the gravel pit on time. But I suppose even cavemen gotta deal with… economics. Ugh.

So What's a Caveman to Do?

Well I say if you're lookin' to buy a house keep an eye on those rates but don't hold your breath waitin' for them to drop. And if you're happy where you are maybe just stick with it. After all there's no place like home… especially when Wilma's cookin' up a bronto burger! Yabba Dabba Doo!