There are a lot of changes being made in 2025 to bring the economy back to booming. There
is chatter about concerns with the closing of the CFPB (Consumer Finance and Protection
Bureau), but that is just a sub department, which is overseen by the FTC (Federal Trade
Commission). The FTC has been around for decades, and has always been the department that protected the consumers against malicious activities and business practices. So no need to worry.
The Feds haven’t reduced the rates as the industry expected with the new administration. It’s
important to understand that there are a lot of moving factors when it comes to the Fed’s reducing
the rates and much of it comes from the economy. With all of the changes being implemented it
seems prudent they will pause for now until there is an actual positive effect on the economic
reports. They will want consistent proof to look back on.
Most people are inclined to choose a mortgage company based on rate, but there are many
other factors to consider when shopping for a mortgage, such as: credit score, income
documentation ability, savings, and property type. Although rate is very important, so is integrity,
experience level, and customer service, The lowest rate in town, doesn’t always get you the keys
to the house within a reasonable time frame, or they may not have the knowledge or experience to
help you get the loan approved and the keys to your new home. So be careful when shopping for
a mortgage company, look at their reviews and ask questions to help you decide who has YOUR
best interest as a top priority.
