Arcadia Chamber of Commerce - The Connection to the Business Community

Lower Rates Create Welcomed Opportunities – Tips from Prestige Capital

Mortgage rates have remained low this month, creating more opportunities for prospective home buyers, and homeowners looking to refinance. Freddie Mac reported 30-year fixed-rate loans at 6.3%, and the 15-year fixed at 5.53% on October 9, 2025. Since then, rates have continued to hover about the same ranges.

What Buyers Need to Know
Buyers have a bit more leverage right now, as the market leans in their favor. More inventory is available, and some markets see less competition in bidding wars. Additionally, sellers appear to be more open to negotiation on price and contract terms.

The big question for potential buyers is, “Are you prepared?”

Regardless of current headlines, buyers need to look at their own unique scenarios to make that decision. I strongly recommend a fully underwritten pre-approval for buyers now. This gives buyers a competitive edge, with the confidence of a lender-backed endorsement.

Is Now a Good Time to Refinance?
Again, every borrower has a unique situation with specific goals in mind. As a general rule of thumb, if your current mortgage is at 6.875% or higher, you may benefit from a refinance now, if you’re looking for a lower rate.

If you have built-up equity, this may be a great time to leverage that equity to pay off debt and regroup. Currently, the average interest rate on credit cards is roughly 22.78%, and refinance rates are significantly lower. Using equity to pay off credit card debt can represent a huge savings to restructure your financial future. Whether you’re buying or refinancing, my team and I are here to help you through the hurdles. We provide a clear analysis of your options, to help you make a sound decision. Give me a call if you – or your friends and family – need an experienced mortgage pro on their side!

Cheers!

Tracy Shaw

President