MORTGAGE RATE OUTLOOK WHAT FOLSOM RANCH HOMEOWNERS SHOULD KNOWTHIS SUMMER

― SCOTT DAVENPORT ―

If you’ve been watching mortgage rates over the past year, you’ve likely felt a bit like you’re on a roller coaster— ups, downs, and a whole lot of waiting to see what’s next. As we head into the summer and early fall, many Folsom Ranch homeowners and buyers are asking the same question: Where are mortgage rates going from here?

The good news? Most experts expect rates to gradually decline in the months ahead.

After peaking in late 2023, mortgage rates have started to ease slightly, hovering in the 6% to 7% range for most loan types. Inflation is cooling, and the Federal Reserve has signaled that we could see rate cuts later this year if that trend continues. While nothing is guaranteed, the general consensus is that by late summer or early fall, we could see more noticeable drops—potentially moving closer to the mid-6% or even low-6% range, depending on the economy and job market.

For current homeowners thinking about refinancing or tapping into home equity, this could be a smart time to start exploring your options. For buyers who’ve been sitting on the sidelines waiting for rates to improve, summer might bring new opportunities to jump into the market—with potentially more affordability and less competition than we’ve seen in recent years.

Here in Folsom Ranch, we’re lucky to be in a growing, indemand community that tends to hold its value well, even in a shifting market. Whether you’re thinking about upgrading, downsizing, or just staying put and making smart financial moves, keeping an eye on rate trends can help you make the most of your options.

If you have questions about where rates are today—or what a future drop could mean for your mortgage or purchase power—I’d love to help. As a fellow Folsom Ranch neighbor and mortgage broker, I’m always happy to offer local insight and honest advice.

Let’s make smart moves together this season.

Have questions or want to explore your options? Reach out anytime—I’m here to help!

Email: scott@sdloangroup.com

Call/Text: (916) 730-9773

Website: www.ScottTheHomeLoanGuy.com

Instagram & Facebook: @ScottTheHomeLoanGuy