So you want to buy a house but already own. These are your options. Many current homeowners would like to sell their home and trade up or down but aren’t sure how in this competitive Real Estate market. If you’re not feeling stuck because of a 2% pandemic era interest rate and resulting payment shock, then it’s probably the daunting task of selling and buying at the same time. Unless you’re one of the lucky few who can afford to purchase a new home without selling, you’re facing a difficult task. Years of strong housing appreciation have created the largest amount of home equity in US history. American homeowners have on average $315,000 in home equity as of Q4 2024 according to Core Logic. The problem most home shoppers face is how to unlock this equity before selling so they can become an attractive non-contingent buyer. Let’s explore the ways. A Home Equity Line of Credit can be a very useful tool when trying to access your homes equity. A HELOC will typically give you access to up to 80% of the equity in your home minus the balance of your existing mortgages. This is a very flexible financial tool. Payments are only due on the balance drawn on the credit line and those payments are typically only for the interest accrued on the loan. No principal payment is required, which keeps the payment low. Very handy when faced with the prospect of owning two homes simultaneously. This is a great option for prospective buyers who can afford the payments on both homes in the short term and who have enough equity available for a down payment on the new home.

April 24, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Apr 24, 2025 Mortgage Rates Continue Lower Thu, Apr 24, 2025 3:47PM Mortgage rates continue the slow, bumpy process of healing from the rapid rise seen 2 weeks ago. Last week was a solid victory in that sense with rates moving steadily and meaningfully lower without any major rebounds. The present week started out on shakier footing as rates lurched higher on Monday. Fortunately, the sailing has been smoother since then. Today was actually the best day of the week so far for the underlying bond market. Most of the improvement happened in overseas trading overnight, but gains continued in the U.S.  The average top tier 30yr fixed rate fell 0.04% from yes... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 Solid Bond Rally For Debatable Reasons Thu, Apr 24, 2025 4:26PM Solid Bond Rally For Debatable Reasons Bonds improved moderately well overnight and added to those gains steadily during the domestic session.  Ask 10 traders why and you might not get 10 different answers, but it would be at least 5. Improvement in the tariff outlook is a common refrain, but forex markets sugge... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 10:18AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 10:18AM EST Other News Want to Buy but Already Own? These are Your Options. Thu, Apr 24, 2025 10:52AM So you want to buy a house but already own. These are your options. Many current homeowners would like to sell their home and trade up or down but aren’t sure how in this competitive Real Estate market. If you’re not feeling stuck because of a 2% pandemic era interest rate and resulting payment shock, then it’s probably the daunting task of selling and buyi... (read more) Loan Delivery, Borrower Search Products; AI and Lending; MAA Action Week; Bank and CU M&A Heating Up Thu, Apr 24, 2025 11:48AM “I hate it when I see an old person and then realize we went to high school together.” Nothing lasts forever, not top lenders or even computer companies. We may reach the point where only old people remember Tandem Computers, Commodore Business Machines, or Fairchild Semiconductor, all thought to be invincible in their time. Is Intel a measure of our economi... (read more) Latest Video March existing home sales miss March durable goods orders top expectations, best since July 2024 Cleveland Fed President Beth Hammack: The uncertainty is really weighing on... Uncertainty around trade policy 'pervasive' across reports, Fed Beige Book ... Around the Web CNBC Home sales last month dropped to their slowest March pace since 2009 CNBC Consumers continue to spend even as trade wars raise recession risk Marketwatch Jobless claims remain is stable range, labor market seen frozen in place Forex Live US March advanced durable goods orders 9.2% versus 2.0% estimate. CNBC Consumer companies are bracing for lower profits as tariffs force shoppers to rethink spending CNBC Business already are trying to pass tariff cost onto customers, Fed report says CNBC Treasury yields decline as Trump considers reversing high China tariffs Forex Live US new home sales for March 0.724M vs 0.680M estimate Calculated Risk Blog Fed's Beige Book: "Economic outlook worsened considerably" CNBC Consumer spending is up big in early April as people buy in anticipation of tariffs Investing.com Fed’s Goolsbee sees tech-driven boom in US economy Forex Live S&P global manufacturing PMI for April 50.7 versus 49.1 estimate. CNBC European Central Bank's Holzmann says rate cuts must wait for more tariff certainty

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