Don’t get hyperfixated on slight mortgage rate movement, broker urges borrowers

Look at the bigger picture instead of just focusing on where rates are, says Charlotte-based broker

Housing market watchers have become used to big fluctuations in average mortgage rates in recent years, from the rock-bottom pandemic-era lows to a sudden surge in 2022 and 2023.

But while rates have been slowly inching lower over the past few weeks, they’ve remained resolutely lodged around the mid-to-high sixes for most of 2025 – and for hopeful buyers, becoming “hyperfixated” on rates that aren’t likely to see dramatic movement anytime soon is the wrong strategy, according to a prominent Charlotte broker.

Rebecca Richardson (pictured top), who’s amassed nearly 150,000 social media followers as the self-styled Mortgage Mentor, told Mortgage Professional America that while interest rates were obviously an important part of the conversation about buying a home or refinancing, she was urging clients not to view it as the sole consideration.

“Yes, the rate is a factor – I’m not discounting that,” she said. “But I just want people to understand and look at the bigger picture, look at all the options that are out there. It’s the same thing for people that cling to their 2.87% or 2.38% rate on their house, and then they’ve got [massive] consumer debt.

“I understand the interest, all those kinds of things – but let’s talk cashflow, too. It doesn’t always mean that you need to refinance, doesn’t mean that the cashout refinance is the right thing. But I want people to look at the bigger picture and all the options on the table versus thinking about everything in its own silo.”

By Fergal McAlinden

22 August 2025 READ THE FULL ARTICLE HERE