Mortgage Rates Trend Lower
Good news for borrowers—mortgage rates have slipped to their lowest levels since April, and refinance activity has jumped to its highest point in four weeks. The drop comes as bond yields fall on weaker job growth and rising expectations for a Federal Reserve rate cut in September.
Labor Market Weakens
July’s jobs report surprised markets, with only 73,000 new jobs added and unemployment ticking up to 4.2%. The slowdown in hiring could prompt the Fed to make multiple rate cuts before year-end.
Trade & Tariffs: A Wild Card
New tariffs took effect on August 7, targeting imports from dozens of countries. Economists warn:
- Consumers will bear much of the cost.
- Tariffs could add as much as 2.4 percentage points to inflation by year-end.
- While tariffs typically push mortgage rates higher, the recent labor data has temporarily offset that effect.
August Outlook
- Rates: Likely to stay stable with potential for modest declines if economic data remains soft.
- Opportunities: Good time to explore refinancing or locking in a purchase rate before any inflation-driven rebound.
- Risks: Trade policy changes and inflation pressures could reverse the downward trend.
Bottom Line
Lower rates, a softening job market, and trade uncertainty are shaping August’s housing finance landscape. Let our experts help you stay alert of economic shifts in the coming weeks which can create financing opportunities.
We’re Here to Help
Whether you’re buying, refinancing, or advising clients, we can guide you toward the best options for today’s market. At GuardHill, we focus on building strong relationships by offering the best combination of service, products, price, and ease of process—backed by flexible lending options and fast approvals.
Some Samples of our Recent Closings:
- $3,400,000 – New York, NY. Purchase of a 3-family property as a primary residence using business bank statements to qualify instead of tax returns.
- $2,500,000 – Seattle, WA. Purchase of a primary residence using RSU income to qualify.
- $2,000,000 –Westchester, NY. Purchase of a primary residence. Borrower is DACA and qualified using business bank statements.
- $1,200,000 – Montgomery, PA. Purchase of a primary residence at 90% LTV with no Mortgage Insurance.
- $650,000 – Brooklyn, NY. Cash-Out Refinance of a recently inherited investment property, qualified on projected rental income.
Recent Testimonials
“I had an incredible experience working with Suzanne from GuardHill. I was in a time-sensitive situation and needed to close on my mortgage quickly. Suzanne managed to get everything finalized in just two weeks, which was nothing short of amazing. She was extremely knowledgeable, responsive, and proactive throughout the entire process. On top of the fast turnaround, she also secured me an excellent mortgage rate and terms. I truly felt like she had my back every step of the way. If you’re looking for a mortgage broker who’s efficient, reliable, and committed to getting you the best deal, I highly recommend Suzanne. She made a stressful process feel smooth and manageable.”
-L.K.
“Darren and his team were terrific to work with. We went from contract to close in 32 days so everyone had to keep their eye on the ball throughout the entire process. We were able to keep our original close date and the process ran as smoothly as can be expected. Highly recommend GuardHill.”
-E.M.
“I worked with Amber for my NYC condo purchase this summer, and while purchasing in New York City can be very complicated, Amber made the process a lot more seamless for me. She was extremely thorough in their explanations and communicated regularly. I would highly recommend using this team for any future purchases.”
-E.S.
“I want to give a huge shout-out to June for all her help! As a self-employed person, I thought I’d never qualify for a loan to buy an investment property. But June found a solution, and now I’m on my way to owning it. She made a complicated process so easy by explaining everything clearly and step by step. She’s super talented, and I’m grateful for her expertise!”
-S.M.
“If I could give Valerieten stars, I would! She turned what we thought would be a stressful process into one of the smoothest, most exciting experiences ever. Valerie was lightning-fast with communication, handled every hurdle like a pro, and got us closed even sooner than expected. On top of all that, she’s warm, approachable, and genuinely invested in her clients’ happiness. We’re recommending Valerie to everyone we know—she’s absolutely the best in the business!”
-D.S.
