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Homebuyers: You’re Looking at the Wrong Metrics — and Most Mortgage Originators Aren’t Getting It Either — Because There’s More to a Good Plan Than Just Rate and Fees https://www.mycore7.com/blog/5

Real Estate/Mortgage/Financial Stuff......(Long post, but I was inspired) Homebuyers: You’re Looking at the Wrong Metrics — and Most Mortgage Originators Aren’t Getting It Either — Because There’s More to a Good Plan Than Just Rate and Fees This is a true story about a very smart couple buying a home. They both had great jobs, strong income, and plenty of savings. On paper, they were in excellent shape. But like many buyers, they were nervous. Their rent was $2,500 a month, and their new home payment would be around $4,500 a month. That’s a big jump — especially with $3,000 a month in daycare costs. Even though their debt-to-income ratio was fine — about 29% without daycare and 40% with daycare — the higher payment made them uneasy. They started to do what many people do when they feel uncertain — they asked everyone for advice. Family, friends, coworkers — everyone had an opinion. Listening to the Wrong People At one point, they said their aunt — who actually works as a mortgage originator in another state — told them to “call Rocket Mortgage” to compare rates. Now, I respect buyers doing their due diligence to make sure they’re getting competitive pricing. That’s smart. But I couldn’t help wondering — does their aunt tell her own clients to call Rocket Mortgage to compare her rates too? Probably not. Because that’s just not how you help clients make good financial decisions. That kind of advice only creates confusion and takes the focus off what really matters. The Real Plan That Made Sense We had already built a great plan that worked. They were putting 15% down and had only $70 a month for PMI. That’s incredibly low, and it allowed them to keep over $30,000 in savings as liquidity — money that could be used for emergencies, repairs, or future opportunities. But they were focused on PMI like it was the worst thing in the world. They were ready to put that entire $30,000 into the mortgage just to remove it. That would have been a mistake. With home prices appreciating and refinance opportunities likely in the future, that PMI would disappear naturally over time. It was simply not worth losing $30,000 of liquidity to get rid of a $70 monthly charge.

There’s never been more information online — and that’s not always a good thing. Today, homebuyers can Google anything about mortgages, rates, or “best loan programs.” But here’s the problem: when you don’t work in this business every day, it’s almost impossible to tell what applies to *you* and what doesn’t. You’ll see posts about “how to avoid PMI,” “how to get the lowest rate,” or “why you should wait for rates to drop.” But most of that advice is written for clicks, not accuracy. Every buyer’s situation is unique — income, debts, credit, goals, family needs, tax impact — and that changes everything. Reading a few online articles doesn’t replace years of experience or a real plan built for your life. It’s like reading about surgery online and then trying to perform one on yourself. The information might be out there — but without context, it can do more harm than good. When you work with a trusted mortgage professional and a full team who looks at your whole picture, you get real advice — not random opinions. If you want to buy a home, remember this: information is free, but wisdom is earned.

📊 Today’s Mortgage Rate UpdateSource: Optimal Blue | National averages | For informational purposes onlyRates may include options with or without discount points. Actual pricing will vary based on credit, LTV, and loan type. 📅 TODAY’S RATES - 30‑YR. Conforming: 6.152% (▲ 0.003%)30‑day range: 6.149% – 6.345% - 30‑YR. Jumbo: 6.422% (▲ 0.079%)30‑day range: 6.336% – 6.669% - 30‑YR. FHA: 6.020% (▲ 0.029%)30‑day range: 6.020% – 6.165% - 30‑YR. VA: 5.766% (▲ 0.012%)30‑day range: 5.750% – 5.950% - 30‑YR. USDA: 6.089% (▲ 0.008%)30‑day range: 5.912% – 6.238% - 15‑YR. Conforming: 5.460% (▲ 0.011%)30‑day range: 5.401% – 5.604% 📈 Market Commentary – What May Have Moved Rates Yesterday - The yield on the 10‑year Treasury dropped to around 4.00%, which helps lower borrowing costs overall. (FRED) - Fixed income and MBS (mortgage‑backed securities) markets rallied last week, with MBS seeing gains — that tends to support slightly lower mortgage rates. (Nuveen) - Ongoing economic uncertainty (such as incomplete data releases due to the government shutdown) is causing the bond market to react to technicals rather than strong fundamentals — meaning rates are more sensitive to small moves in yields. (firstwestmortgage.com) 🔍 Reminder:These are national averages for illustration only. Your actual rate will depend on your credit score, down payment (or LTV), property type, and loan program. I confirm: this format—vertical list of rates + commentary + reminder—will be used every single time going forward unless you ask for a change.