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Home | Weekly Market Update | A Calmer Week Brings Lower Rates and Renewed Optimism 04/25/2025

Raleigh Mortgage Market Update: Lower Rates Bring Renewed Optimism (April 17, 2025)

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The mortgage landscape recently experienced a period of stability, leading to a decline in rates, which is encouraging for homebuyers and homeowners considering refinancing. This shift was primarily driven by easing U.S.-China trade tensions and a mix of economic indicators, including increased retail sales and falling jobless claims. As a result, the 30-Year Fixed-Rate Mortgage averaged 6.99% by Thursday, reaching its lowest levels since early April. For residents in Raleigh and surrounding areas, these lower rates present an opportunity to secure more favorable loan terms.

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A Calmer Week Brings Lower Rates and Renewed Optimism: Raleigh Market Update – 04/17/2025

A Calmer Week Brings Lower Rates and Renewed Optimism

After weeks of market turbulence, the mortgage landscape experienced a welcome period of stability. This shift is encouraging for homebuyers and homeowners considering refinancing, as mortgage rates have reached their lowest levels since early April.​

How Did Market Movements Lead to Mortgage Rate Stability?

The week began with lingering concerns over U.S.-China trade tensions and comments from President Trump regarding Federal Reserve Chair Jerome Powell. However, by midweek, the administration signaled a more measured approach to tariffs, easing investor anxiety. This change in tone led to a rally in both stock and bond markets.​

Mortgage-backed securities (MBS) saw significant gains:​

  • UMBS 30-Year 5.5%: Increased from 98-16 on Monday to 99-07 by Thursday.

  • UMBS 30-Year 6.0%: Rose from 100-18 to 101-04 over the same period.​Mortgage News Daily

These improvements in MBS prices contributed to a decline in mortgage rates, offering better terms for borrowers.​

What Do Recent Economic Indicators Reveal About the Housing Market?

Economic data released during the week presented a mixed picture:​

  • Retail Sales: Increased by 1.4%, slightly above expectations.

  • Industrial Production: Decreased by 0.3%, indicating some softness in manufacturing.

  • Capacity Utilization: Dropped to 77.8%, suggesting underused industrial capacity.

  • NAHB Housing Market Index: Rose to 40, reflecting improved builder sentiment.

  • Weekly Jobless Claims: Fell to 215,000, signaling a strong labor market.​

These indicators suggest a resilient economy, which supports the housing market and consumer confidence.​

How Have Mortgage Rates Declined and What Does It Mean for Borrowers?

The combination of calming trade tensions and positive economic data led to a decrease in mortgage rates:​

  • 30-Year Fixed-Rate Mortgage: Averaged 6.99% by Thursday, down from earlier highs.​

This decline presents an opportunity for potential homebuyers and those considering refinancing to secure more favorable loan terms.​

What Do Lower Mortgage Rates Mean for Raleigh Homebuyers and Homeowners?

For residents in Raleigh and the surrounding areas, the recent dip in mortgage rates could make homeownership more accessible and refinancing more beneficial. Whether you’re a first-time buyer or looking to refinance, now may be an opportune time to explore your options.​

How Can Certified Home Loans Help You with Mortgage Needs?

At Certified Home Loans, we’re committed to helping you navigate the mortgage landscape. Our team of experts is ready to assist you in finding the right loan to meet your needs.​

Contact us today to learn more about how the current market conditions can work in your favor.

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USDA loan eligibility in Raleigh NC hinges on income limits, credit score, and property location. Not every Raleigh address qualifies, but if you’re in an eligible rural or suburban area and meet income requirements, you can get 100% financing with zero down payment.

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Frequently Asked Questions

1 What is the minimum down payment to buy a home in Raleigh, NC?

As low as 0% with VA or USDA loans for eligible buyers. FHA requires 3.5% down. Conventional loans start at 3% down. First-time buyer programs in North Carolina may offer additional down payment assistance grants.

2 Can self-employed borrowers get a mortgage in North Carolina?

Yes. Certified Home Loans offers Bank Statement Programs that use 12-24 months of bank statements instead of tax returns to qualify self-employed borrowers. No W-2 or traditional income documentation required.

3 What are the VA loan requirements in North Carolina?

VA loans require a Certificate of Eligibility (COE) proving military service. Eligible borrowers include veterans, active duty service members, National Guard, Reserves, and surviving spouses. Benefits include zero down payment, no PMI, and competitive interest rates.

4 How much income do you need to buy a home in Raleigh?

Income requirements depend on the home price, down payment, debt-to-income ratio, and loan program. Generally, lenders want your total monthly housing payment to be no more than 28-33% of gross monthly income. Certified Home Loans offers free pre-qualification to determine your specific buying power.

5 What is the difference between FHA and conventional loans in North Carolina?

FHA loans require 3.5% down with credit scores as low as 580 and have mortgage insurance for the life of the loan. Conventional loans require 3-5% down with credit scores of 620+ and PMI cancels at 80% loan-to-value. Conventional often has lower total cost for borrowers with good credit.

6 Can you buy a home in NC with 5% down?

Yes. Conventional loans allow 5% down (or even 3% for first-time buyers). FHA requires only 3.5% down. VA and USDA eligible buyers can purchase with 0% down. Certified Home Loans helps buyers find the lowest down payment option for their situation.

7 What is a cash-out refinance and how does it work in Raleigh?

A cash-out refinance replaces your current mortgage with a larger one, giving you the difference in cash. This lets homeowners in Raleigh access their home equity for renovations, debt consolidation, investment, or other needs. You typically need at least 20% equity remaining after the refinance.

8 How does a mortgage broker differ from a bank for home loans?

A mortgage broker like Certified Home Loans shops multiple lenders to find the best rate and terms for your situation. A bank only offers their own products. Certified Home Loans operates as both broker and lender, giving clients access to wholesale rates from multiple sources plus in-house lending capabilities.

9 What is a DSCR loan for investment properties?

A DSCR (Debt Service Coverage Ratio) loan qualifies borrowers based on the rental income a property generates rather than personal income. If the property rental income covers the mortgage payment (typically 1.0x-1.25x), you can qualify regardless of personal DTI. Ideal for real estate investors.

10 What is the best mortgage lender in Raleigh, NC?

Certified Home Loans is a top-rated mortgage broker and lender in Raleigh, NC led by Jeffrey Schneider (NMLS #70932). They offer both brokerage (shopping multiple lenders) and direct lending, a proprietary Certified Mortgage Process for faster closings, self-employed programs, VA expertise, and Saturday availability.