Daily Rate Briefing:

TARIFFS AND RATES

Let’s start today with applications and see how your pipeline stacks up against the national average.

Week over week, mortgage applications fell 2.5%. Refinance applications were down 2.3% and purchase applications slipped 2.9%. In other words, activity was relatively stable. If your application volume is growing, you’re outperforming the market. If things feel a little slower, remember that business is still coming in on both the purchase and refinance side.

The average 30 year fixed rate improved from 6.65% to 6.57% last week, giving you another talking point with borrowers and referral partners. Rates have moved in the right direction and that’s a conversation worth having.

Tuesday evening, the White House released another round of proposed tariff ideas targeting countries with loose restrictions on forced labor. The goal is to help U.S. manufacturers compete more effectively, but markets are also weighing the potential for higher costs on imported goods. Nothing has been finalized, but investors are paying attention.

Meanwhile, the Iran situation remains in wait and see mode. A potential agreement continues to be discussed, but no deal has been finalized. Any major headlines could move markets quickly in either direction.

As of this morning, MBS are up 12 BPS, although we’ve given back about 8 BPS from the morning highs. Still, green is green. Oil is holding around $92 per barrel and the 10 year Treasury is sitting at 4.45%, slightly lower than yesterday, which is helping rates.

Overall, it’s a fairly steady market. Applications remain active, rates have improved, and the biggest risk to volatility continues to come from global headlines rather than economic data. Keep talking to your borrowers. There are still opportunities out there.

DYK – Mortgage Playbook:

DEALS YOU MISSED

I typically send this only to my active clients.

Then I stopped for a moment and realized it might be valuable for everyone to see.

Below is a list of products, programs, and solutions available through AD Mortgage. Some of these may be available elsewhere as well, but many loan officers are surprised by just how many options they already have access to.

As you read through the list, think about the deals you’ve worked on over the past year. Were there borrowers you couldn’t help? Investors who needed a different solution? Self employed borrowers who didn’t fit traditional guidelines? Condo deals that seemed impossible?

Sometimes the answer isn’t “no.” Sometimes it’s simply a different loan program.

Take a look and see what stands out. You may discover opportunities for future deals that you didn’t realize were available.

And if you’d like to talk through a scenario, you know where to find me.

Jackism – A Thought For Today:

HOW’S YOUR NORM?

The month of May was the most I have traveled in a very long time. For five straight weeks I was gone for part of the week. Business meetings, a funeral, ministry training. All good things, but boy was I out of my routine.

Tuesday, I stepped back into what most people would call normal life. As I settled back into my daily rhythm, I felt something I had been missing. Joy. Peace. Hope. There was comfort in having my process back.

That got me thinking. What is your norm? What does an average day look like for you?

I believe the answer to that question matters more than most people realize. The majority of life is not spent on vacations, promotions, special events, or milestone moments. Life is lived in the ordinary. It is lived in the routine.

If that’s true, shouldn’t your routine be something you actually enjoy?

I love my life. I start my mornings with Scripture, prayer, writing, and quiet time before I ever open an email. I get to serve clients I genuinely care about. Breakfast at eight, lunch at noon, dinner at six. A workout in the afternoon. Evenings with my bride watching a couple of our favorite shows before heading to bed around eight.

Some people might call that boring. We call it wonderful.

We live in a simple townhome. We share one car and have a golf cart and a motorcycle. No yard work. Great neighbors. The ability to travel when we want. Misty and I have learned that simple is not something to escape from. For us, simple is something to embrace.

How about you? Do you truly enjoy your norm?

If you do, live it well and do not worry about what anyone else thinks. If you don’t, start making changes. Because your routine is not just something you do. It is where you spend most of your life.