Why Your Mortgage Strategy Should Align with Your Financial Plan—Not Just the Rate

Mortgage interest rates are finally falling in Michigan. Learn what the Fed’s expected rate cut in September means for homebuyers and homeowners in Clarkston and beyond.

The Fed held rates steady at 4.25–4.5% in July 2025. Learn what that means for Michigan mortgage rates, whether it’s time to buy or refinance, and what’s next for homebuyers in Clarkston and surrounding areas.

Feeling priced out of the Michigan housing market? Learn how Millennial buyers in Clarkston and Metro Detroit can still afford their first home, even with high interest rates and home prices.

Discover how our Mortgage Under Management™ system helps Clarkston homeowners stay ahead of the market, avoid overpaying, and refinance at the right time.

Mortgage rates are being influenced by tariffs, the Federal Reserve, and global market volatility. Here’s what Clarkston homebuyers and homeowners need to know this week—and what actions to take.

Fed Governor Waller hints at interest rate cuts soon—but what does that mean for mortgage rates in Clarkston, Michigan? Learn what it means for homebuyers and homeowners now.

On July 17, 2025, Federal Reserve Governor Christopher Waller called for an immediate interest rate cut, citing slowing economic momentum and progress on inflation. If you're a homebuyer or homeowner, this could mean lower mortgage rates, better refinance opportunities, and improved affordability in the coming months. 📣 What Did Waller Say? During a speech in New York hosted by the Money Marketeers of NYU, Fed Governor Christopher Waller made headlines by urging a 0.25% rate cut at the upcoming July 29–30 Fed meeting. Here’s what he emphasized: The U.S. economy is losing steam. GDP growth has slowed from late 2024 highs and consumer spending is weakening. Inflation is near the Fed’s 2% goal. Waller noted that core inflation has been tame and short-term price hikes from new tariffs should be temporary. Act now before job growth deteriorates. He warned that waiting too long could allow economic conditions to worsen unnecessarily. This isn't political. While speculation swirls about Waller potentially replacing Jerome Powell as Fed Chair, Waller made clear: “This recommendation is based on data, not politics.” 🔍 Big Picture: Why the Fed’s Split Matters Waller’s stance is not shared by the majority of the Fed’s decision-makers. Most FOMC members favor holding off until September or later, citing concerns about: Lingering inflation risks The impact of tariffs from President Trump’s trade policies Uncertainty about how resilient the labor market really is However, Waller and Fed Governor Michelle Bowman are pushing for faster action—especially given signs of softening in housing, consumer demand, and hiring trends. 🏠 How This Affects You: Homebuyers & Homeowners 1. Mortgage Rates Could Drop Sooner Than Expected A rate cut by the Fed could lower the cost of borrowing, particularly for: Adjustable-rate mortgages (ARMs) Home equity lines of credit (HELOCs) Refinance options for homeowners While fixed mortgage rates aren’t directly tied to Fed policy, they often respond to market expectations, which are now pricing in a cut. 2. Affordability Could Improve for Buyers If rates fall and home price appreciation slows alongside the broader economy, buyers may gain more leverage—especially first-time buyers who’ve been priced out. 3. Time to Revisit Refinance Opportunities If you purchased or refinanced during the high-rate cycle of 2023–2024, now may be a good time to start tracking mortgage rates again. A quarter-point drop could translate into meaningful savings, especially over 30 years. 4. Home Equity May Stabilize Waller downplayed tariff inflation as short-term “noise.” That’s good news for long-term homeowners: if inflation remains anchored, it could support stable home values and equity growth without forcing aggressive rate hikes. 🧭 Final Thoughts Waller’s speech was a strong signal that rate relief could be coming sooner than expected. For buyers on the fence and homeowners with high-interest mortgages, this may be the opportunity to act. Want to know what this means for your unique situation? Let’s connect for a free annual financial review to help you understand your options—whether that’s locking in a better rate, evaluating refinance opportunities, or preparing for your next home purchase. 📅 Book a quick call with me here 📱 Or just text me: 248‑214‑8526

If you’ve been house hunting or talking to real estate professionals in Clarkston or anywhere in Metro Detroit, you’ve probably heard the phrase “Marry the house, date the rate.” But what does it actually mean—and is it good advice? Let’s break it down in simple terms: “Marry the House” means you should buy the home you truly love—the one that fits your needs, lifestyle, and long-term goals. This is a long-term commitment. “Date the Rate” means your mortgage interest rate is temporary—you’re not stuck with it forever. When rates go down, you can refinance. In other words, don’t miss out on your dream home just because rates are higher right now. You can always refinance later. But that house? It might not be available later. Why This Mindset Matters in Today’s Market Interest rates have been fluctuating over the past year, and if you’re like many buyers in Clarkston, Waterford, or Lake Orion, you’re asking: “Should I wait for rates to drop before buying?” Here’s why that could be a risky strategy: Home prices in Michigan are still rising. In areas like Clarkston and surrounding suburbs, we’re seeing steady appreciation. Waiting could mean paying more later. You can’t refinance a home you don’t own. Lock in the house now and refinance when the market shifts. Inventory is tight. The right home in the right school district doesn’t stay on the market long. 🏠 Let’s say you buy now at 7.0% interest and refinance to 5.5% a year from now. That’s a win—especially if your home has gained value in the meantime. Real Example: Clarkston Buyer Case Study A recent client of mine here in Clarkston found a home they loved in early spring. Rates were around 6.875%, and they were hesitant. We talked through their long-term goals, crunched the numbers, and made a plan to refinance when rates drop. They’re now in their dream home—and building equity every month. If they had waited, that same home would’ve cost $15,000 more based on local appreciation trends. What to Ask Yourself Instead of “Should I Wait?” Can I afford the payment today, and does it fit my monthly budget? Is this a home I can grow into over the next 5–10 years? If I wait, will I still be able to afford the same neighborhood? Remember, a mortgage isn’t a lifelong sentence. But missing out on the right home can set your goals back years. What’s the Plan? Here’s How I Help: At NEO Home Loans powered by Better, I help Clarkston families build smart, flexible mortgage strategies. When you work with me, you get: ✅ A plan for refinancing when rates drop ✅ An analysis of total cost of waiting vs. buying now ✅ Guidance through a competitive local market ✅ Local experience with homes in Clarkston, Lake Orion, Waterford, and surrounding areas Let’s run the numbers together and see what’s possible. Want to Talk It Through? Schedule a free planning call with me today. I’ll walk you through options tailored to your goals—no pressure, just clear advice. 📅 Book a time on my calendar 📞 Or call/text me at 248-214-8526 Final Thought Rates will change. Homes will come and go. But the right house at the right time? That’s worth acting on. Marry the house. Date the rate. And let’s build your mortgage plan together.

If you’ve found yourself asking “Should I wait to buy a home?” or “Is now a good time to refinance?”