Traditional & Non-Traditional Mortgage Solutions

MORTGAGE RATES: WEEK OF 2/2/2025 

🏠 FHA: 5.49% Rate (APR ~6.392%)

FHA allows as little as 3.5% down up to a $1.2M loan amount.

📄 Conforming: 6.125% Rate (APR ~6.335%)

Conforming allows as little as 3% down up to $833k, or 5% down up to $1.25M loan amount.

🏦 Jumbo 7/ARM: 5.625% Rate (APR ~5.81%)

Jumbo loans are required above $1.2M, but rates can be more competitive with strong credit/reserves.

🧾 Bank Statement Loan: 6.125% Rate (APR ~6.328%)

Perfect for self-employed borrowers who can’t qualify with tax returns.

What is APR? Basically, APR is how lenders communicate the cost of a loan so you can compare between lenders. It's not the rate your payment is based on.  

Mortgage Market Update — This Week
Mortgage rates are still sitting in the low-to-mid 6% range, but they’re moving more on day-to-day bond market swings than big headlines. There’s no clear trend lower yet because inflation progress is uneven and the job market remains firm.

The key thing people miss:
Rates aren’t reacting to what the Fed did — they’re reacting to what markets expect the Fed to do next. Those expectations are shifting constantly, which is why pricing feels jumpy even in quiet weeks.

Bottom line:
Rates are relatively stable, but sensitive. Execution matters. The spread between lenders is wide, and structure and timing can still make a meaningful difference.

 
Reports This Week That Can Move Rates
These are the ones bond markets actually care about:

JOLTS (Job Openings): Signals labor demand and wage pressure
ADP Employment Report: Early read on private payrolls
ISM Services Index: Big one — services inflation matters more than goods
Non-Farm Payrolls (Friday): The most important report of the week

*Jobs growth
*Wage inflation
*Unemployment rate

Strong labor or hot wages = Rates go up
Weaker labor data = rates can ease

Derek Vail | NMLS #1233953 | Equal Housing Lender .