Everybody Take a Deep Breath
Boring Mortgage News
A little reference point
So yes, before the war in Iran popped off, we had some low interest rates, and due to the inflation monster, those have ticked up. It’s all over the news, which is causing folks to feel a wee bit anxious, but if we look back over the last few years, you might feel better.
I stole this from Logan Mohtashami of HousingWire:
- If we had the worst mortgage spread levels of 2023, rates would be 7.57%, not 6.42%
- If we had the worst levels of 2024, mortgage rates would be 7.19%
- If we had the worst levels of 2025, mortgage rates would be 7.00%
So, everybody, take a deep breath and let’s keep moving forward. If that perfect house pops up, if we go through the fire drill and you feel good about the payment and funds to closing…
Let’s go buy a house.
Less Boring Mortgage News
As I was riding down a mountain and remembering we needed to ride back up said mountain, I noticed the average for the 30-year fixed rate is still hanging in the mid 6% range.
Keep in mind that this is a national average, and can change a bunch based on down payment, credit, property type, occupancy type, and program type. If you want to dive deeper, holler at me.
Source: HousingWire & Mortgage News Daily. This is not a commitment to lend and does not guarantee the availability of any particular product or interest rate. Rates/terms illustrated may not be available through BankSouth Mortgage.
Blog post date: May 11, 2026


