I know this is a Mortgage/Real Estate post, but it didn’t feel right diving right into Mortgages & Real Estate talk without first giving a moment to the most influential person in my life.
It definitely puts things in perspective when someone you love is taken away.
I have been incredibly blessed with all the love and support we’ve received the last few days – I love and appreciate our amazing clients and Agents who have become like family to us.
Thank you for your support 🙏
🙏💔My amazing mother is in a better place now.
After a long battle with stage 4 breast cancer, Janet Wilson McGowan made her way to a peaceful resting place at 9:05pm on Wednesday, 2/5.
She was in the comfort of her home, with her close family.
She waited for everyone in the immediate family to make it to the house that evening.. waited for Dwight McGowan to kiss her good night, then she took her last breath.. perfect timing, just like mom always had.
She was initially diagnosed with breast cancer in 2011, fought, and beat it.
Then it reared its ugly head again the beginning of 2020 and she was given 3 years to live.. but if you know my mom, you know she’s a fighter – and she outlasted it for over 5 more years.
***
But our mom’s story is so much more than the unfortunate end.
She touched and impacted so many people’s lives over the years.
She was respected by everyone encountered.. and as all of our friends know, she wasn’t one to be messed with 😅
She was the most generous person we’ll ever meet. She was always donating time and money to help those in need.. and I found out years later about how she would go donate her time at soup kitchens to help others, but didn’t ever want to take credit or have the attention on her.
That’s just the genuinely amazing person our mom was.
She loved camping, some of her fondest memories were with family and friends going dirt bike riding 🚲 – from the forests 🌳 of MO, to the mountains 🏔️ of CO.
She lived for adventure and for those around her.. always putting others before herself.
My dad will tell you, his first memory of my mom was of her at the lunch table in high school, studying through her books on her lunch break.. she was always learning and bettering herself, which is something that stuck with her forever.
She went to college before it was the norm for everyone to go to college, because she wanted to always be bettering herself.
She loved her ceramics classes, loved her plants 🪴, loved her friends and family.
***
A couple things that we all could do that would make her smile from ear to ear as she’s looking down upon:
- live each day to the fullest
- be the best version of ourselves/best person we can be each day
- and do something each month for someone else that’s less fortunate. Help brighten someone else’s day with nothing expected in return. That’s what our mom did and that’s what made her such a bright place in this world 🙏❤️
***
If nothing else, please do an act of kindness this week and put more good in the world, just like Janet would 🙏❤️
Where are Mortgage Rates Headed? 📈📉🤔
The Federal Reserve is closely watching inflation before making further rate cuts. While Fed rates and mortgage rates are different, both are influenced by inflation trends—and we’re actually on track with the Fed’s goal.
Over the last eight months, inflation has averaged 0.15% per month, which is right in line with the Fed’s 2% annual target, which would need inflation at 0.16% per month.
But here’s the key: the Fed looks at a 12-month rolling average, meaning each month, we replace an older inflation number with a new one.
Now, January through April of 2024 had high inflation—almost double what the Fed wants.
- Jan: 0.4%
- Feb: 0.3%
- March: 0.3%
- April: 0.3%
But as we move through early 2025, those higher numbers will drop off and be replaced with (hopefully) lower inflation figures.
The result? By May 2025, inflation could be fully under control.
That’s when we could see mortgage rates start to meaningfully decline, possibly even before the Fed officially cuts rates.
If you’re thinking about buying or refinancing, keep an eye on this trend—we could be heading toward lower rates in the coming months!
Community First Program 🧑🏫🧑🚒👮♀️👨⚕️
Introducing our Community First Program – Giving Back to Those Who Give So Much to our communities.
Our Community First program is our way of giving back to the people who make our communities stronger.
We know that buying a home can take a lot, so we’ve created two powerful options to help:
Lower Interest Rate for the First Year
- We buy your interest rate down by 1% for the first year.
- After that, it adjusts to the normal rate, but if rates drop, we’ll help you refinance to a lower long-term rate.
Down Payment Assistance – Forgiven in Just 6 Months
- We’ll cover your 3.5% down payment, and unlike other programs that require five or more years before the grant is yours, ours is forgiven after just six months of on-time payments.
- That means if you need to move or want to refinance, you’re not locked in—you have flexibility.
Whether you need lower payments upfront or help with your down payment, we’ve got you covered.
We’re committed to giving back to those who serve our communities, and we’re here to help you every step of the way.
Let’s make homeownership easier for you!
Reach out to see how you can qualify.
Sports & Life 🏈
Success in Life is Like Football
Life, like football, isn’t always about scoring a touchdown in one big play—it’s about moving the ball down the field, play by play, first down by first down until you reach the end zone.
Think about the Kansas City Chiefs. A few years ago, they were a high-powered offense, scoring quickly.
But then, defenses adjusted, and they had to change their strategy—focusing on smaller gains, controlling the game, and minimizing mistakes.
It’s the same in life. Your 1, 5, or 10-year goals are your touchdowns, but getting there isn’t about one massive leap—it’s about daily wins, consistent effort, and avoiding setbacks.
So don’t get discouraged if success doesn’t happen overnight.
Focus on picking up yards, making smart plays, and controlling what you can today. If you do that, the touchdowns—and the big wins—will come.
Latest Fed Meeting
The December core CPI inflation numbers came in slightly below projections at 0.2%, which was a great sign for mortgage rates.
While rates still need consistent months of low inflation to truly decline, this was an important stepping stone in the right direction.
Now, let’s break down what’s really driving inflation.
The CPI report is made up of eight main components, but the biggest one by far is Shelter, which accounts for 44% of the total index.
Since housing is the largest expense for most people, it has the biggest impact on inflation.
- Home prices: They haven’t dropped, but they’re no longer skyrocketing, which helps stabilize inflation.
- Rents: This has been the most stubborn part of shelter inflation because leases typically last 12 months, meaning high rent prices from last year were still showing up in the reports.
However, rents have now started to decline. In Q4 of 2024, rents fell by 2.4% nationwide—the first quarterly drop in 15 years!
As more high-rent leases expire and renew at lower rates, this will finally bring shelter inflation down.
The Fed has already acknowledged that rents are softening, and as this trend continues, it should help bring overall inflation down further—which is the last major hurdle before mortgage rates can meaningfully drop.
Bottom line? We’re heading in the right direction. Inflation is cooling, and as shelter costs ease, mortgage rates should follow.
Stay patient—better rates are on the horizon!
Mortgage Market’s Reaction to the Data
What’s Driving Mortgage Rates Right Now?
The mortgage market is on high alert, closely watching inflation and jobs data to get any clue about where rates might go next. And as you can see from recent trends, it’s been extremely volatile.
Here’s a real-time example of how data impacts rates:
• January 15th: The CPI inflation report came in lower than expected—a great sign for mortgage rates. Immediately, the 10-year Treasury yield dropped, which helped ease mortgage rates.
• February 7th: The reports showed unemployment dropped from 4.1% to 4.0%—meaning the economy isn’t weakening, which is bad for mortgage rates. The 10-year Treasury yield jumped higher, and mortgage rates followed.
The Simple Theme:
• A weaker economy = lower mortgage rates
• A stronger economy = higher mortgage rates
Beyond jobs and inflation, another factor to watch is tariff talks.
If new tariffs are introduced, it could increase inflation by raising the cost of imported goods.
However, if tariffs weaken the economy, it could actually help bring mortgage rates down.
Bottom line?
Rates are hanging in the balance, reacting to every new data point.
We’ll keep watching the trends and keep you posted!
A Huge Thank You – Honored to be in the Top 1%
We are absolutely honored to be recognized in the top 1% with United Wholesale Mortgage (UWM)—the nation’s largest mortgage lender.
This achievement is extra special because:
• Nexa Mortgage is UWM’s largest broker/partner, and
• McGowan Mortgages is the #1 loan officer team at Nexa Mortgage.
This award is a testament to our amazing clients who trust us with one of the biggest financial decisions of their lives, and our Agent partners who put their faith in us to take care of their buyers.
We don’t take that lightly.
While we’re incredibly grateful for this recognition, we know the work isn’t done.
We’re committed to working even harder, helping more families, and putting more good out there.
Thank you for being part of this journey—we’re here to make sure you always feel confident that you’re making the right choice with your home loan!
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