July 2, 2025 • 6 mins
LET'S TALK ABOUT THE MORTGAGE MARKET And we're talking about this because so much of the economy is attached to people buying new homes I want to find out what the short term picture is like. I've got American Financing's Casey Schwartzkoff on to discuss it at 2:30. If you need mortgage help call 303-695-7000 or click here.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
For most of us, our mortgages, our homes are going
to be the largest asset that we have, right That's
going to be the thing that that is going to
be our our nest egg, really, and so when the
market goes up or down, we want to know what's
what's happening there. But also the home market, the housing
market has so many ancillary businesses that rely on it
(00:21):
that you know, I have a lot of home improvement
clients that have told me, look, you know, when people
move into a new house, that's when they spend money
on things like new beds and things of you know,
fixing the place up or you know, making it their
own or whatever whatever you want to call it.
Speaker 2 (00:37):
And right now our housing market is kind of frozen.
There's a couple of things going on.
Speaker 1 (00:40):
Number One, tons of people have their houses on the
market now here in Denver. But mortgage rates are sitting
six and a half and just under seven percent. They've
been going up and down in that range, and so
I thought it might be useful to bring on Casey
schwartzkof from American Financing to kind of talk about where
the mortgage market is in terms of races, what the
(01:00):
forecasting is and what we might be looking at in
the near term in the long term, Casey, welcome the show.
Speaker 2 (01:06):
First of all, thanks so much for having me. Well,
I have to say, you guys can't see Casey.
Speaker 1 (01:12):
Casey, you have an epic beard like that thing is amazing.
Speaker 2 (01:16):
How long has that been a project?
Speaker 3 (01:20):
I appreciate about five years or so. I've been growing
it up.
Speaker 1 (01:23):
You wear it well. You wear it well, my friend.
Let's give it a serious business right now. Where are
mortgage rates right now? And what kind of movement are
we seeing?
Speaker 4 (01:31):
If any, They're all over the place. Like you said,
they've been going up and down depending on the program.
We do see some rates into the five so and
then obviously up from there. Like you had talked about,
there's a lot of stuff that impacts that.
Speaker 1 (01:45):
So where are we looking in the near term forecast?
What are you guys.
Speaker 4 (01:48):
Seeing If you look at what industry experts are saying,
it's kind of all over the place. The Feds do
meet again this month, but it's not projected that they'll
be doing any anything there.
Speaker 3 (02:00):
Then they medigat after that in September.
Speaker 4 (02:02):
There is a projection sixty five percent chance that they
might go down then, but it just they look.
Speaker 3 (02:08):
At a lot of stuff.
Speaker 4 (02:09):
They look at all the economic data with the inflation,
you know, unemployment, jobless claims, possibility of the war in
Iran has been infected it recently.
Speaker 3 (02:17):
So there's just a lot of stuff and a lot
of uncertainty there.
Speaker 1 (02:20):
So in a time like this, what's your advice for
someone who's kind of sitting on the sidelines. Maybe they're
sitting on the sidelines about buying a new home, maybe
they're sitting on the sidelines about refining because of interest
raise what do you what are you telling people right now?
Speaker 3 (02:35):
It's so hard to say.
Speaker 4 (02:36):
Everybody thought that the rates would have come down already
and they have it so will they come down probably eventually,
but it's it's hard to tell when As far as buying,
most most experts are thinking that it's a great time
to get into the house even worth where it rates
are right now. Is a seller i mean sorry, buyer's
market out there right now there, like you said, there's
a lot of houses on the on the market, so
(02:57):
it gives you the ability to maybe get a little
bit better deal on a house right now, and then
if rates do come down in the future, like most
expect they will. You can always, you know, look at
a refinding. So if rates do go down and a
lot you're probably going to see housing prices jump up,
which you missed the boat at that time.
Speaker 3 (03:15):
So now is a good time in most people's opinion
to be buying.
Speaker 1 (03:19):
That is an excellent point that when the rates do
go down, every buyer on the sidelines is going to
jump into the pool at the same time, and it's
going to create a feeding frenzy and multiple offers and
all of the pressure that we had four or five
years ago. So if you're thinking about moving, now's the time.
The problem is is I think a lot of people
might be trapped in their current home, So we'll have
to come back to that later. I do want to
(03:41):
ask you, you know, a lot of people are still
and I talk about it. This is what I advertise
for you guys. A lot of people are still using
reefies to deal with high credit card debt.
Speaker 2 (03:51):
And I don't know if you guys saw, but we now.
Speaker 1 (03:53):
Crossed a very dubious threshold in the United States. We've
now got record high credit card debt at one point
two one trillion dollars. So when someone is sitting on
a pile of credit card debt. How what helps them
make the decision about whether or not it's a smart
choice to tap into that equity with a refine versus
trying to manage that massive pile of credit card another way.
Speaker 4 (04:18):
Yeah, it all comes down to how much really can out.
But like you said, as a country as a whole,
and now we have more than we've ever had before.
So most people are are setting with a decent amount
of credit card debt out there, and most people in
the Denver area.
Speaker 3 (04:31):
Have a lot of equity in their home.
Speaker 4 (04:32):
So it is, like you said, their biggest financial asset
that we tike a financial tool that allows them to
save money. We are seeing on average right now about
eight hundred dollars a month in savings when people are
looking at consolidating that credit card debt. So we can
definitely take a look at it see if it makes
sense to refinances.
Speaker 3 (04:48):
We do have equity loans as well.
Speaker 4 (04:50):
Sometimes they make more sense, but we take a look
at the whole picture and just see what's available to
get you in a better spot.
Speaker 1 (04:57):
Well, we talk all the time that mortgage rates no
matter now at between six and a half and seven percent.
We're talking about historical norms. This is where historically mortgage
rates have been. We all just got super spoiled by
those low interest rates a few years ago. Do you
guys ever see three percent coming back? Because I'm honest, Casey,
(05:17):
I don't think that's ever coming back, not in the
near future, not for the next decades.
Speaker 2 (05:22):
Do you know what I mean?
Speaker 4 (05:24):
Yeah, that was probably a once in a lifetime kind
of thing because it happened. Sure, you never know, but
those interest rates, like you said, are not the norm,
and we'll probably never sit in the game.
Speaker 1 (05:35):
Casey Schwartzkoff from American Financing, I appreciate your time and
if people need help either originating a new mortgage, because
I've done all these with American Financing. They make it
so incredibly easy it's not even funny, just give them
a call three oh three, six nine, five, seven thousand,
or find them online at American Financing dot net.
Speaker 2 (05:51):
Casey, I appreciate the check in, man.
Speaker 3 (05:53):
I appreciate you.
Speaker 2 (05:54):
Thank you all right, Oops, have a great day.
Speaker 1 (05:57):
That's Casey schwartz Cough with American Finance at saying
For most of us, our mortgages, our homes are going
to be the largest asset that we have, right That's
going to be the thing that that is going to
be our our nest egg, really, and so when the
market goes up or down, we want to know what's
what's happening there. But also the home market, the housing
market has so many ancillary businesses that rely on it
(00:21):
that you know, I have a lot of home improvement
clients that have told me, look, you know, when people
move into a new house, that's when they spend money
on things like new beds and things of you know,
fixing the place up or you know, making it their
own or whatever whatever you want to call it.
Speaker 2 (00:37):
And right now our housing market is kind of frozen.
There's a couple of things going on.
Speaker 1 (00:40):
Number One, tons of people have their houses on the
market now here in Denver. But mortgage rates are sitting
six and a half and just under seven percent. They've
been going up and down in that range, and so
I thought it might be useful to bring on Casey
schwartzkof from American Financing to kind of talk about where
the mortgage market is in terms of races, what the
(01:00):
forecasting is and what we might be looking at in
the near term in the long term, Casey, welcome the show.
Speaker 2 (01:06):
First of all, thanks so much for having me. Well,
I have to say, you guys can't see Casey.
Speaker 1 (01:12):
Casey, you have an epic beard like that thing is amazing.
Speaker 2 (01:16):
How long has that been a project?
Speaker 3 (01:20):
I appreciate about five years or so. I've been growing
it up.
Speaker 1 (01:23):
You wear it well. You wear it well, my friend.
Let's give it a serious business right now. Where are
mortgage rates right now? And what kind of movement are
we seeing?
Speaker 4 (01:31):
If any, They're all over the place. Like you said,
they've been going up and down depending on the program.
We do see some rates into the five so and
then obviously up from there. Like you had talked about,
there's a lot of stuff that impacts that.
Speaker 1 (01:45):
So where are we looking in the near term forecast?
What are you guys.
Speaker 4 (01:48):
Seeing If you look at what industry experts are saying,
it's kind of all over the place. The Feds do
meet again this month, but it's not projected that they'll
be doing any anything there.
Speaker 3 (02:00):
Then they medigat after that in September.
Speaker 4 (02:02):
There is a projection sixty five percent chance that they
might go down then, but it just they look.
Speaker 3 (02:08):
At a lot of stuff.
Speaker 4 (02:09):
They look at all the economic data with the inflation,
you know, unemployment, jobless claims, possibility of the war in
Iran has been infected it recently.
Speaker 3 (02:17):
So there's just a lot of stuff and a lot
of uncertainty there.
Speaker 1 (02:20):
So in a time like this, what's your advice for
someone who's kind of sitting on the sidelines. Maybe they're
sitting on the sidelines about buying a new home, maybe
they're sitting on the sidelines about refining because of interest
raise what do you what are you telling people right now?
Speaker 3 (02:35):
It's so hard to say.
Speaker 4 (02:36):
Everybody thought that the rates would have come down already
and they have it so will they come down probably eventually,
but it's it's hard to tell when As far as buying,
most most experts are thinking that it's a great time
to get into the house even worth where it rates
are right now. Is a seller i mean sorry, buyer's
market out there right now there, like you said, there's
a lot of houses on the on the market, so
(02:57):
it gives you the ability to maybe get a little
bit better deal on a house right now, and then
if rates do come down in the future, like most
expect they will. You can always, you know, look at
a refinding. So if rates do go down and a
lot you're probably going to see housing prices jump up,
which you missed the boat at that time.
Speaker 3 (03:15):
So now is a good time in most people's opinion
to be buying.
Speaker 1 (03:19):
That is an excellent point that when the rates do
go down, every buyer on the sidelines is going to
jump into the pool at the same time, and it's
going to create a feeding frenzy and multiple offers and
all of the pressure that we had four or five
years ago. So if you're thinking about moving, now's the time.
The problem is is I think a lot of people
might be trapped in their current home, So we'll have
to come back to that later. I do want to
(03:41):
ask you, you know, a lot of people are still
and I talk about it. This is what I advertise
for you guys. A lot of people are still using
reefies to deal with high credit card debt.
Speaker 2 (03:51):
And I don't know if you guys saw, but we now.
Speaker 1 (03:53):
Crossed a very dubious threshold in the United States. We've
now got record high credit card debt at one point
two one trillion dollars. So when someone is sitting on
a pile of credit card debt. How what helps them
make the decision about whether or not it's a smart
choice to tap into that equity with a refine versus
trying to manage that massive pile of credit card another way.
Speaker 4 (04:18):
Yeah, it all comes down to how much really can out.
But like you said, as a country as a whole,
and now we have more than we've ever had before.
So most people are are setting with a decent amount
of credit card debt out there, and most people in
the Denver area.
Speaker 3 (04:31):
Have a lot of equity in their home.
Speaker 4 (04:32):
So it is, like you said, their biggest financial asset
that we tike a financial tool that allows them to
save money. We are seeing on average right now about
eight hundred dollars a month in savings when people are
looking at consolidating that credit card debt. So we can
definitely take a look at it see if it makes
sense to refinances.
Speaker 3 (04:48):
We do have equity loans as well.
Speaker 4 (04:50):
Sometimes they make more sense, but we take a look
at the whole picture and just see what's available to
get you in a better spot.
Speaker 1 (04:57):
Well, we talk all the time that mortgage rates no
matter now at between six and a half and seven percent.
We're talking about historical norms. This is where historically mortgage
rates have been. We all just got super spoiled by
those low interest rates a few years ago. Do you
guys ever see three percent coming back? Because I'm honest, Casey,
(05:17):
I don't think that's ever coming back, not in the
near future, not for the next decades.
Speaker 2 (05:22):
Do you know what I mean?
Speaker 4 (05:24):
Yeah, that was probably a once in a lifetime kind
of thing because it happened. Sure, you never know, but
those interest rates, like you said, are not the norm,
and we'll probably never sit in the game.
Speaker 1 (05:35):
Casey Schwartzkoff from American Financing, I appreciate your time and
if people need help either originating a new mortgage, because
I've done all these with American Financing. They make it
so incredibly easy it's not even funny, just give them
a call three oh three, six nine, five, seven thousand,
or find them online at American Financing dot net.
Speaker 2 (05:51):
Casey, I appreciate the check in, man.
Speaker 3 (05:53):
I appreciate you.
Speaker 2 (05:54):
Thank you all right, Oops, have a great day.
Speaker 1 (05:57):
That's Casey schwartz Cough with American Finance at saying
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