Dan Harding - Intercap Lending

Market Update – December 2025

✅ Conventional 30-Year Fixed: 5.99% (6.086% APR)

Hope you all had a great Thanksgiving! Here’s what’s happening in the housing and rate world this week:

New Loan Limits! Conventional loan limit bumped up to $832,750 for 2026, giving buyers more room before hitting jumbo loans.

Inflation (PCE Report) came in exactly as expected:
• Monthly: +0.3%
• Year-over-year: 2.8%
Stable = good for rates.

Jobs Data was mixed this week:
• ADP shows 32K job losses
• Jobless claims came in lower than expected (possibly impacted by the holiday)
Overall, labor market is cooling gradually.

Finally, there is a Federal Reserve meeting next week. The markets are pricing an 85% chance of a 0.25% rate cut. But remember, much of this is already priced into mortgage rates today. If the Fed surprises and doesn’t cut, expect rates to bump up a bit.

✅ Conventional 30-Year Fixed: 5.875% (5.923% APR)

We got some good news on inflation this morning! September’s CPI inflation report came in a little lower than expected — 0.3% vs. 0.4% — showing inflation is still cooling.

That basically locks in a 0.25% rate cut from the Fed next week.

Here’s what surprises a lot of people… A Fed rate cut doesn’t automatically mean mortgage rates will drop. The bond market already priced that in, so today’s mortgage rates are already reflecting that good news.

The 10-year Treasury yield is sitting just under 4%, near the lower end of its recent range. That means mortgage rates are already close to the best we’ve seen in months.

For rates to improve further, we’ll need to keep seeing softer economic data. But once the government reopens and economic reports start coming in again, expect some volatility.

If you’ve been waiting for a Fed cut to “time the market,” this might be your window. The opportunity is already here.

Send me a quick message if you’d like me to run numbers or payment options for you. Thank you!

Mortgage rate update! Good news, mortgage rates are at 2025 lows!

This week’s inflation report came in as expected, keeping rates steady to slightly better. Next week’s jobs report could be the key to seeing even more improvement.

Home values remain steady: Case-Shiller shows 1.9% appreciation year-over-year through June, and Redfin reports 2.2% growth in median home prices.

Here are today’s starting rates (with 1 point):
✅ Conventional 30-Year Fixed: 6.125% (6.206% APR)

Enjoy the long weekend! Get out into the mountains!

Mortgage rate and market update!

📉 Rates are steady. Inventory is up. Buyers are back. 🏡

Here’s what’s happening in the housing market right now:

✅ Mortgage rates are holding steady — thanks to improving mortgage spreads
🏡 Utah inventory is up 30% year over year = more homes to choose from
🔻 Over 40% of listings nationwide have had price cuts
📈 Buyer activity is growing — 24 straight weeks of year-over-year application growth

Bottom line:
This market isn’t crashing — it’s correcting. And for buyers, that means more leverage and more opportunity.

If mortgage spreads keep improving, we could see rates drop even closer to 6%. 👀

Thinking about making a move? Let’s run the numbers.

Here’s where rates are starting today:
• ✅ Conventional 30-Year Fixed: 6.5% (6.594% APR)
• ✅ FHA 30-Year Fixed: 5.875% (6.652% APR)
• ✅ VA 30-Year Fixed: 5.99% (6.295% APR)
• ✅ Jumbo 30-Year Fixed: 6.5% (6.588% APR)
• ✅ Investment Property 30-Year Fixed: 6.875% (6.972% APR)

Have a great weekend!