Navy Fellas Realty Group

Real Estate, Residential sales and purchase

What’s Ahead For Mortgage Rates This Week – August 11th, 2025

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The major report to look out for was the Trade Balance, which has decreased more than expected, suggesting that the current administration’s policies are having an impact. However, the long-term impact on the economy as a whole remain to be seen. This was followed closely by consumer credit, which came in far lower than expected, though many are predicting that consumer credit usage will grow over time. While the labor market remains constrained, the consumer market has remained stable in spite of the uncertainty brought on by the tariff policies.

Trade Balance
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $60.2 billion in June, down $11.5 billion from $71.7 billion in May, revised.

Consumer Credit
Revolving credit, mainly credit cards, declined for the second straight month in June, the Federal Reserve said. Revolving credit fell at a 1% rate in June after a 3.5% drop in the prior month. Declines in credit-card borrowing are rare: The last time revolving credit fell for two straight months was during the COVID pandemic in 2020.

Primary Mortgage Market Survey Index

  • 15-Yr FRM rates saw a decrease of -0.10% with the current rate at 5.75%
  • 30-Yr FRM rates saw a decrease of -0.09% with the current rate at 6.63%

MND Rate Index

  • 30-Yr FHA rates saw a decrease of -0.07% this week. Current rates at 6.15%
  • 30-Yr VA rates saw a decrease of -0.08% this week. Current rates at 6.16%

Jobless Claims
Initial Claims were reported to be 226,000 compared to the expected claims of 221,000. The prior week landed at 219,000.

What’s Ahead
A heavy week with the next round of inflation data being released with both the CPI and PPI reports. It should be noted that this CPI will feature less recorded data, relying more on estimations. In addition, Retail Sales, Consumer Sentiment, and Treasury Budget should prove to be impactful data releases.

What’s Ahead For Mortgage Rates This Week – August 4th, 2025

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There were several notable releases this last week, with the largest being the PCE Index — the Federal Reserve’s preferred inflation indicator. The PCE Index may be the more accurate indicator going forward, as data collection for the Consumer Price Index has been recently cut, thereby reducing its reliability. As expected, the inflation numbers have been steadily rising with the PCE Index, indicating that impacts from the tariffs are now filtering into prices for both producers and consumers.

As a follow up, Personal Income & Spending has had a light upturn after the initial panic with the tariffs. Lastly, the job numbers from last week have been unexpectedly weak, showing a slow down of the economy overall due to many factors.

PCE Index
A key measure of inflation posted the biggest increase in four months in June as the delayed effects of higher U.S. tariffs began to filter through the economy, raising questions about whether the Federal Reserve will cut interest rates soon. The PCE index, the Fed’s preferred inflation gauge, rose 0.3% last month, the Bureau of Economic Analysis said Thursday. It was the biggest increase since February.

Personal Spending & Income
Americans spent more money in June after U.S. trade wars began to simmer down, but they were cautious spenders amid all the turmoil caused by the Trump administration’s tariffs. Personal spending increased 0.3% last month, the government said Thursday, and partly recovered from a soft patch in May and April.

Employment Reports
The U.S. only added 19,000 jobs in May compared to an initial report of 144,000, and only 14,000 in June after an initial report of 147,000, according to the BLS. Those two paltry totals, plus a July jobs gain of 73,000, means the U.S. added just 106,000 jobs over the past three months.

Primary Mortgage Market Survey Index

  • 15-Yr FRM rates saw a decrease of -0.02% with the current rate at 5.85%
  • 30-Yr FRM rates saw a decrease of -0.02% with the current rate at 6.72%

MND Rate Index

  • 30-Yr FHA rates saw a decrease of -0.17% this week. Current rates at 6.22%
  • 30-Yr VA rates saw a decrease of -0.16% this week. Current rates at 6.24%

Jobless Claims
Initial Claims were reported to be 218,000 compared to the expected claims of 222,000. The prior week landed at 217,000.

What’s Ahead
Next week will be a fairly light week, with the most significant releases being the Trade Balance as well as the Services PMI reports.

What’s Ahead For Mortgage Rates This Week – July 28th, 2025

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Very little was released this week due to the major inflation data releases from the previous week. The Leading Economic Index was the most significant—and only—impactful release this week, showing a further decline in overall sentiment about the current economic situation. The majority of the decline was largely driven by expectations for business conditions. The decline was faster than expected, enough to warrant continued monitoring of the Leading Economic Index going forward.

Leading Economic Indicators
The Conference Board Leading Economic Index for the US declined by 0.3% in June 2025 to 98.8, after no change in May (revised upward from -0.1% originally reported). As a result, the LEI fell by 2.8% over the first half of 2025, a substantially faster rate of decline than the -1.3% contraction over the second half of 2024.

Primary Mortgage Market Survey Index

  • 15-Yr FRM rates saw an increase of 0.05% with the current rate at 5.87%
  • 30-Yr FRM rates saw an increase of 0.01% with the current rate at 6.74%

MND Rate Index

  • 30-Yr FHA rates saw no change for this week. Current rates at 6.39%
  • 30-Yr VA rates saw no change for this week. Current rates at 6.40%

Jobless Claims
Initial Claims were reported to be 217,000 compared to the expected claims of 227,000. The prior week was 221,000.

What’s Ahead
Personal Income & Spending and PCE Prices will lead the way for data releases next week. Followed up by the Nonfarm Payrolls giving a strong indicator of where the economy is headed for the average consumer.

What’s Ahead For Mortgage Rates This Week – July 21st, 2025

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While inflation has slowed down since the pandemic, it is showing a faster-than-expected rise for consumers, as the CPI (Consumer Price Index) has reported a higher than expected 0.3% increase, contrasted to the 0.2% expected increase.

Meanwhile, the PPI (Producer Price Index) has proven to be entirely flat, with the largest takeaway being that signs of tariff-related inflation are — at best — scattered among data reports, leading to many speculating that the impacts have been overestimated.

Given continued inflation for consumers, it is very unlikely the Federal Reserve will make any adjustments to the rate as it adopts a “wait-and-see” approach to the administration’s policies. Another noteworthy data release is retail sales, which has shown to snap back after the concerns about tariffs and widespread price increases have eased.

Consumer Price Index
Consumer prices in June posted the biggest increase since the beginning of the year and are likely to keep the Federal Reserve from cutting interest rates later this month, but there were only scattered signs of tariff-related inflation. The consumer-price index rose 0.3% last month, the government said Tuesday, and matched Wall Street’s forecast. It was the biggest rise since January.

Producer Price Index
Wholesale prices were unchanged in June and showed only a mild effect from U.S. tariffs, adding to the growing view that trade wars won’t lead to a big surge in inflation. The flat reading in the producer-price index came in below the Wall Street forecast of a 0.2% increase.

Retail Sales
Receipts at retail cash registers rose 0.6% last month, the government said Thursday, based on seasonally adjusted numbers. That was three times the Wall Street estimate.

Primary Mortgage Market Survey Index
• 15-Yr FRM rates saw an increase of 0.06% for this week, with the current rates at 5.92%
• 30-Yr FRM rates saw an increase of 0.03% for this week, with the current rates at 6.75%

MND Rate Index
• 30-Yr FHA rates saw an increase of 0.04% for this week, with the current rates at 6.39%
• 30-Yr VA rates saw an increase of 0.03% for this week, with the current rates at 6.40%

Jobless Claims
Initial Claims were reported to be 221,000 compared to the expected claims of 234,000. The prior week landed at 228,000.

What’s Ahead
After inflation reports, there will only be the Leading Indicators report in the schedule for next week.

From Search to Keys How Long Does Buying a Home Take

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Buying a home is an exciting journey, but it can also feel overwhelming if you are not sure what to expect. One of the most common questions from homebuyers is how long the process takes from start to finish. The answer depends on several factors, but knowing the general timeline can help you plan and reduce stress.

The Home Search Phase
Finding the right home can take anywhere from a few weeks to several months. This phase includes deciding what you want in a home, searching listings, attending showings, and narrowing down your choices. Some buyers find their perfect home quickly, while others take more time to explore neighborhoods and weigh options. Being clear about your needs and working closely with a knowledgeable real estate agent can help speed this process.

Making an Offer and Negotiations
Once you find a home you want to buy, you will make an offer to the seller. Depending on the market, negotiations can be quick or may involve several rounds. In a competitive market, offers may need to be submitted quickly, and sellers often respond fast. In a slower market, negotiations can take longer as both sides work toward agreement on price and terms.

The Under Contract Phase
After your offer is accepted, the home is considered under contract. This phase typically lasts between 30 to 45 days but can vary. During this time you will complete important steps such as getting a home inspection, securing your mortgage loan approval, and completing any necessary appraisals or surveys. This is also the time to review disclosures and finalize your finances.

Closing and Moving In
The closing process involves signing paperwork and transferring ownership. It usually takes place a few weeks after the under contract period, often around 30 to 60 days from your initial offer depending on your lender and local practices. Once the closing is complete you receive the keys and can move into your new home.

Factors That Can Affect the Timeline
Several things can speed up or slow down the homebuying process. A strong pre-approval for your mortgage can make loan processing faster. Having a flexible closing date can help accommodate the seller’s needs. However, issues such as appraisal delays, title problems, or inspection concerns can extend the timeline. Communication with your agent and lender throughout the process is key to keeping everything on track.

Be Patient and Prepared
Buying a home takes time and patience but being informed helps reduce stress. Understanding the typical timeline and what to expect at each stage will help you feel confident and ready. With the right team supporting you, the process can be smooth and rewarding.

If you are ready to start your home search or want to learn more about what to expect, reach out. I am here to guide you every step of the way.

The Truth About Buying a Home with No Money Down

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For many first-time homebuyers, the idea of purchasing a home with no money down sounds too good to be true. It is often advertised as a dream scenario, but the reality is more nuanced. There are options out there that allow for low or no down payment, but they come with specific requirements and considerations. Understanding these options can help you make a smart and informed decision as you plan your path to homeownership.

Understanding No Money Down Programs
There are a few loan programs that offer the possibility of buying a home without a down payment. Two of the most well-known options are loans backed by the United States Department of Agriculture and the Department of Veterans Affairs. These programs are designed to help specific groups of buyers. For example, eligible veterans, active duty service members, and certain members of the National Guard may qualify for the zero-down program through the Department of Veterans Affairs. Similarly, rural and some suburban homebuyers who meet income and location guidelines may qualify for the program backed by the United States Department of Agriculture.

It is important to know that these loans do not mean you will not pay anything at closing. You may still be responsible for closing costs, which can include fees for the appraisal, title, insurance, and other services. However, some sellers may agree to contribute toward closing costs as part of your negotiation, and there are local grant and assistance programs that may help as well.

What to Expect Financially
Even if a program does not require a down payment, that does not mean you can avoid all upfront costs. Lenders will still evaluate your credit, income, and debt to ensure you can afford the monthly payments. It is wise to have some savings set aside for unexpected expenses, home maintenance, or moving costs. No money down does not mean no responsibility. You are still committing to a long-term financial obligation, and being prepared will help you start strong.

Also keep in mind that not putting money down means you are financing a larger loan amount. This may result in higher monthly payments and more interest paid over the life of the loan. It is always helpful to review the numbers carefully with your lender and your real estate agent.

A Realistic Path to Homeownership
No money down programs can be a valuable stepping stone for those who qualify, but they are not the only way to buy a home. If you do not meet the requirements, there are low down payment options and assistance programs that may still make homeownership within reach. The key is to be educated about your choices and work with professionals who will help guide you through the process.

If you are thinking about buying a home and want to know what options are available to you, reach out. I would be happy to answer your questions and help you take the next step toward becoming a homeowner.

Beyond the Mortgage Payment What Homeownership Really Costs

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Owning a home is a major milestone and a meaningful investment. It offers stability, personal freedom, and the chance to build equity over time. However, while many buyers focus on saving for the down payment and qualifying for a loan, there are additional expenses that often catch new homeowners off guard. Understanding the hidden costs of homeownership can help you prepare financially and avoid surprises.

Property Taxes and Insurance
Once you own a home, you are responsible for property taxes, which vary depending on your location and the value of your property. These are recurring costs that can increase over time. Homeowners insurance is also required by most lenders and protects your property from damage or loss. Both of these expenses are often included in your monthly mortgage payment, but they can still add up significantly each year.

Maintenance and Repairs
Even a well-maintained home will require ongoing care. From replacing air filters to fixing a leaky faucet, these tasks are part of protecting your investment. Larger repairs, such as a new roof, water heater, or HVAC system, can be costly and are sometimes unexpected. A good rule of thumb is to budget one to two percent of your home’s value annually for maintenance and repairs.

Utilities and Services
As a homeowner, you are now fully responsible for all utilities, including water, electricity, gas, trash collection, internet, and more. Depending on the size and age of your home, these costs can vary. You may also choose to hire services for landscaping, pest control, or regular cleanings, all of which should be factored into your monthly budget.

Appliances and Furnishings
When you buy a home, you may need to purchase or replace appliances such as a refrigerator, washer and dryer, or stove. Furnishing your new space can also be more expensive than expected, especially if you are moving into a larger home. Planning for these purchases ahead of time can help you avoid financial strain after move-in.

Homeowners Association Fees
If your property is part of a planned community or condominium complex, you may be required to pay homeowners association fees. These fees help maintain common areas, amenities, and community standards, but they can be hundreds of dollars per month depending on the location and services provided.

Plan Ahead and Stay Informed
The key to handling the hidden costs of homeownership is to plan ahead. Build a savings cushion, understand your monthly and annual expenses, and prioritize preventive maintenance to avoid larger issues down the road. A trusted real estate agent can help you understand the full financial picture before you buy, so you can move forward with confide

How to Tell If a Home Purchase Price Is Truly a Good Deal

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Buying a home is one of the largest investments most people will make. It is exciting, but it can also feel overwhelming, especially when you are trying to decide whether the home you love is priced fairly. So how do you know if you are getting a good deal? The answer involves more than just looking at the listing price. Here are the key factors to consider.

Compare Similar Homes in the Area
The best way to evaluate a home’s value is to compare it to recent sales in the neighborhood. These are often referred to as comparable sales, and they provide a snapshot of what buyers have actually paid for similar properties. Your real estate agent can help you review recent data, including homes with similar square footage, age, condition, and features. If the home you are considering is priced higher than similar homes nearby, there should be a clear reason why.

Evaluate the Condition of the Property
A home that appears to be a bargain on paper may need costly repairs or upgrades. Before you make an offer, look closely at the condition of the roof, windows, plumbing, electrical systems, and appliances. A professional home inspection is essential and can uncover hidden problems. If repairs are needed, you can use that information to negotiate a better price or ask the seller to make the repairs before closing.

Understand the Local Market
Real estate values are influenced by supply and demand. In a hot market with low inventory, homes may sell above asking price because multiple buyers are competing. In a slower market, you may have more room to negotiate. Your agent can help you understand local trends and determine whether the asking price is in line with current conditions. Timing matters, and understanding the broader market helps you make a more informed decision.

Look Beyond the Price Tag
A good deal is more than just the purchase price. Consider factors such as property taxes, insurance costs, and any homeowners association fees. Also think about your long-term goals. If the home is in a location with strong schools, growing job opportunities, and community development, it may offer great value over time even if the price is not the lowest on the block.

Use a Trusted Professional
One of the smartest things you can do is work with an experienced real estate agent who knows the area and can help you evaluate the full picture. A good agent will give you honest advice, provide access to valuable data, and support you during negotiations.

The right home is not always the cheapest one. It is the one that fits your needs, feels like the right place to call home, and makes sense financially based on the market.

What’s Ahead For Mortgage Rates This Week – July 14th, 2025

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This was an extremely light release week with only the Consumer Credit Report. The amount of expected credit was expected to rise but only showed half the growth — a sign that things are still in stable condition. The most important reports will be featured with next week’s releases of inflation data in the Consumer Price Index (CPI) and the Producer Price Index (PPI), as well as the Federal Reserve’s Beige book. The Trump Administration has also further extended the pauses on the tariffs which has been a welcome relief.

Consumer Credit
Total U.S. consumer credit growth slowed to a $5.1 billion gain in May, down from a $16.9 billion rise in the prior month, the Federal Reserve said Tuesday. That translates to a 1.2% annual rate in May, down from a 4% rise in the prior month.

Primary Mortgage Market Survey Index
• 15-Yr FRM rates saw an increase of 0.06% for this week, with the current rates at 5.86%
• 30-Yr FRM rates saw an increase of 0.05% for this week, with the current rates at 6.72%

MND Rate Index
• 30-Yr FHA rates saw an increase of 0.08% for this week, with the current rates at 6.35%
• 30-Yr VA rates saw an increase of 0.08% for this week, with the current rates at 6.37%

Jobless Claims
Initial Claims were reported to be 227,000 compared to the expected claims of 235,000. The prior week landed at 232,000.

What’s Ahead
Consumer Price Index, Producer Price Index, and the Beige Book will be huge determining factors on the direction of decisions for the Federal Reserve.

What’s Ahead For Mortgage Rates This Week – July 7th, 2025

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With next week featuring both the CPI and PPI reports, the release schedule for this upcoming week will be extremely light. This previous week featured a small number of notable data releases. First being the trade deficit which has shown a sharp decline due to the tariff policies, but has increased again with the pause on tariffs. The manufacturing sector has seen growth as well with the PMI Manufacturing data, but inflation also proves to have grown just as much. Lastly, employment numbers have shown a stronger than expected labor market, but there are still expectations that things will cool further.

Manufacturing PMI
The headline index from the report, the seasonally adjusted S&P Global US Manufacturing Purchasing Managers’ Index, improved to 52.9 in June, from 52.0 in May. The latest reading was the highest since May 2022, and indicative of a solid rate of expansion. It was also the sixth successive month in which the PMI has posted above the critical 50.0 no-change mark.

Manufacturers recorded a first rise in production for four months. Growth was the second-steepest since March 2024, surpassed only by February’s near three-year record.

Employment Data
The U.S. added a decent 147,000 jobs in June, pointing to resilience in the labor market. But the pace of hiring has slowed since last year as businesses grapple with trade wars and the crackdown on immigration. About half of the new jobs were created by state and local governments, taking some shine off a seemingly solid report. The private sector only added 74,000 jobs, marking the smallest increase in eight months.

Trade Deficit
The U.S. goods and services trade deficit increased in May 2025 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $60.3 billion in April (revised) to $71.5 billion in May, as exports decreased more than imports. The goods deficit increased $11.2 billion in May to $97.5 billion. The services surplus decreased $0.1 billion in May to $26.0 billion.

Primary Mortgage Market Survey Index
• 15-Yr FRM rates saw a decrease of -0.09% for this week, with the current rates at 5.80%
• 30-Yr FRM rates saw a decrease of of -0.10% for this week, with the current rates at 6.67%

MND Rate Index
• 30-Yr FHA rates saw an increase of 0.06% for this week, with the current rates at 6.27%
• 30-Yr VA rates saw an increase of 0.07% for this week, with the current rates at 6.29%

Jobless Claims
Initial Claims were reported to be 233,000 compared to the expected claims of 240,000. The prior week landed at 237,000.

What’s Ahead
An extremely light release week with nothing of note. The following week will feature inflation data with the CPI and PPI reports.