This is a YouTube video titled "Mortgage Rate WHIPLASH" containing a monologue or presentation about recent fluctuations in mortgage rates and how McGowan Mortgages is helping clients navigate rate locks to secure the best home loan. The content is from April 2025 and focuses on mortgage market trends and client strategies.
What a historically bumpy ride for mortgage rates. If you're potentially buying a house right now or potentially going to refinance, you're watching the mortgage market. You probably saw rates got really, really good. And homebuyer applications last week were up 25% compared to the same week last year. So housing market's booming. I think we all in the market, in the, in the industry have been seeing that. However, total reversal, total change of plans. This week, mortgage rates skyrocketed. They're up a half percent across the industry right now. Here's what we're doing in McGowan mortgages to help. We can't control the way the market's going. All we can do is help our clients make the best educated guess instead of you having to guess and roll the D. Pick the right day to lock. Because right now, nobody knows the best day to lock. What we're doing is when you get under contract, we can lock your rate in right then and there so you're protected. You have a ceiling. However, we monitor the market each day while you're under contract. And as long as there's 15 days before closing and the market gets better, we can lock you in with a brand new fresh interest rate, no cost at all, no strings attached, and get you into your best home loan before closing. That way you get multiple attempts at locking most every other bank and lender. You get a lock once, roll the dice. You don't want to risk a new home.
