The rate you see today might not be the one you lock tomorrow

Today's average rate is 6.75% (6.829% APR). The government bonds that set mortgage pricing went down a bit, so rates edged lower.

But here's what matters more: the Federal Reserve (the group that controls short-term interest rates for the whole economy) announces their next move on June 17. That's nine days from now.

Markets get jumpy before that. Rates can bounce around fast.

Here's what it means for your budget: a quarter-point swing changes a $500,000 loan payment by about $75 a month.

If you're shopping right now, lock when the number works. Waiting for a better rate close to the Fed meeting is a coin flip.

I answer my phone. Let's figure out what makes sense for your timeline and your actual payment, not what might happen in a week.

Rates, timing, and pre-approval before you tour homes: (949) 350-8005.

Informational only, not a commitment to lend, rates subject to change. Brett Hickman, NMLS 2010859. Equal Housing Opportunity.