Unlocking the Mortgage Market

Tariffs are messing with the economy again. Businesses are trying to pass those higher costs to consumers, and it’s starting to show up in price data. Manufacturing prices jumped to levels we haven’t seen since major crises like the 2008 oil spike and the 2021 supply chain chaos.

Services, which had been holding out, are now raising prices too. That’s a big red flag because it means inflation may be creeping back in ways that aren’t so “transitory” anymore.

Companies are hoarding inventory like it's 2020 toilet paper all over again. They're stocking up now before more tariffs hit in July. But this kind of panic-buying can’t last forever — and when it stops, we’ll likely see demand drop, and that could drag down GDP and prices.

You can expect conventional rates to be in the high 6's for folks buying a primary residence and for those buying a second home or investment property rates are going to be in the low to mid 7's. Those buyers who are utilizing FHA or VA loans can expect rates in the mid to low 6's.

Will Savage

President

PMC Mortgage

NMLS 1860830