It was a quiet week for mortgage news. There wasn’t much going on as far as economic news goes, so markets were very calm. We are still at 6.25% for our best 30-year fixed conventional scenario.

Mortgage rates finally started to move off center this week and they moved in a favorable direction. We moved down to 6.25% for our best 30-year fixed conventional scenario.

It was a pretty quiet week for economic data this week with mortgage bond trading in a pretty narrow range this week. Not a lot of movement in the markets so rates will end the week right where we started at 6.375% for our best 30-year fixed conventional scenarios.

For buyers looking at homes that need work—or current homeowners dreaming of a remodel—the Fannie Mae HomeStyle® Renovation Loan offers a powerful, all-in-one financing option. Instead of taking out a separate loan or draining your savings, this program lets you roll the renovation costs into a single mortgage.

For existing homeowners, refinancing into a HomeStyle® Renovation loan allows you to tap into your home’s future value—not just current equity—to fund renovations big or small. Whether you're upgrading your kitchen, adding a bedroom, or modernizing a fixer-upper, this single-loan solution helps you finance both your current mortgage and your desired improvements in one easy process.

The HomeStyle loan combines the purchase price and renovation costs into one loan, which means you can finance updates like new flooring, a kitchen remodel, or even an addition—all right from the start. This is a major win for first-time buyers who want to customize a home without dipping into savings for renovations after closing.