Rates dipped a little today. But no one's promising it sticks.

The government's borrowing cost (the 10-year Treasury yield) fell a bit today, and mortgage rates usually follow. Today's average rate for a 30-year fixed loan is 6.5%. That's a small move, but it's the right direction if you're trying to lower your monthly payment. On a $500,000 loan, each small drop in rate can save you $50 to $75 a month.

The catch? The Fed's decision on rates is coming June 17, about a week from now. Markets tend to get jumpy when that's close. Rates can hop around for no clear reason. If you see a rate you can work with, locking it in now removes the guesswork. If you want to wait, just know you're betting it drops further instead of bouncing back up.

I can't predict next week, but I can walk you through what makes sense for your situation. If you want to talk numbers or see what you qualify for, call me at (949) 350-8005. I answer my own phone. NMLS 2010859 | informational only, not a commitment to lend, rates subject to change | Equal Housing Opportunity