Author: Eric BernsteinPublished:
2025 has OFFICIALLY kicked off and while there hasn't been any big splashes yet - there certainly seems to be some on the horizon.
It's a huge week for jobs data this week, Trump takes office in just 2 weeks, the Federal Reserve's first meeting of 2025 is in 23 days, and let's not forget about the international headlines that could impact us like.... Trudeau expected to resign as the Prime Minister of Canada TODAY!
There's a lot of volatility that could occur with mortgage rates as a result of an action packed January. With an incoming president widely expected to announce tariffs and other policies that could significantly impact the economy, inflation and most importantly, mortgage rates.
The average rate on a 30-year fixed rate conventional loan stayed flat at 6.9% last week, but that's not stopping us from saving our borrower's money!
Since there was almost no noteworthy news last week, I want to take a moment to highlight 3 transactions from last year that I'm particularly proud of at LendFriend.
The Second Opinion
This borrower was introduced to LendFriend right before going under contract. The client had been working with another lender for months, but after getting advice from his friend to check us out, the borrower decided to get preapproved with LendFriend "just to see" if we could offer him a better rate.
Turns out, it was the best decision he could have made. NOT ONLY were we able to offer him a lower rate with lower fees. It turns out that he qualified for the $7,500 cash bonus that I constantly harp on in these newsletters! He would have never known about the cash bonus because his lender NEVER bothered to even check! His total savings by working with LendFriend was roughly $10,000 plus the monthly savings he enjoys thanks to his lower rate.
The Relocating Buyer
A good friend of mine was relocating from Florida to Texas. He wanted to buy a home in Texas, but all of his cash was "trapped" in his Florida home. He didn't want to rush to sell the Florida home, sacrifice taking less than what it was worth and have to deal with multiple moves. He was the perfect borrower for our Buy Before You Sell program. Not only was he able to make a non-contingent offer on a home here in Texas without selling his home in Florida. He could move his family to Texas, get everyone settled in and then worry about listing his Florida home. This transaction helped a good friend in a tight spot and had the added benefit of giving me another person to play pickleball with!
The Veteran
The sacrifice that veterans have made for this country entitle them, at a minimum, to a low-cost, stress-free and streamlined mortgage process. Unfortunately, many of the institutions that claim to specialize in helping veterans do the opposite. High fees and higher rates.
I happen to meet one such veteran a couple months ago. He was also working with a lender who didn't have his best interests at heart. The other lender was charging processing fees, underwriting fees and almost $10,000 in discount points! I was able to offer the same exact rate with no points or fees - a savings of $12,000, plus I can almost guarantee that our customer service was MUCH better! 😊
Helping people (and helping people save money) is what makes LendFriend so special. I hope we can have many more of these stories in 2025!
It's a huge week for jobs data this week, Trump takes office in just 2 weeks, the Federal Reserve's first meeting of 2025 is in 23 days, and let's not forget about the international headlines that could impact us like.... Trudeau expected to resign as the Prime Minister of Canada TODAY!
There's a lot of volatility that could occur with mortgage rates as a result of an action packed January. With an incoming president widely expected to announce tariffs and other policies that could significantly impact the economy, inflation and most importantly, mortgage rates.
The average rate on a 30-year fixed rate conventional loan stayed flat at 6.9% last week, but that's not stopping us from saving our borrower's money!
Since there was almost no noteworthy news last week, I want to take a moment to highlight 3 transactions from last year that I'm particularly proud of at LendFriend.
The Second Opinion
This borrower was introduced to LendFriend right before going under contract. The client had been working with another lender for months, but after getting advice from his friend to check us out, the borrower decided to get preapproved with LendFriend "just to see" if we could offer him a better rate.
Turns out, it was the best decision he could have made. NOT ONLY were we able to offer him a lower rate with lower fees. It turns out that he qualified for the $7,500 cash bonus that I constantly harp on in these newsletters! He would have never known about the cash bonus because his lender NEVER bothered to even check! His total savings by working with LendFriend was roughly $10,000 plus the monthly savings he enjoys thanks to his lower rate.
The Relocating Buyer
A good friend of mine was relocating from Florida to Texas. He wanted to buy a home in Texas, but all of his cash was "trapped" in his Florida home. He didn't want to rush to sell the Florida home, sacrifice taking less than what it was worth and have to deal with multiple moves. He was the perfect borrower for our Buy Before You Sell program. Not only was he able to make a non-contingent offer on a home here in Texas without selling his home in Florida. He could move his family to Texas, get everyone settled in and then worry about listing his Florida home. This transaction helped a good friend in a tight spot and had the added benefit of giving me another person to play pickleball with!
The Veteran
The sacrifice that veterans have made for this country entitle them, at a minimum, to a low-cost, stress-free and streamlined mortgage process. Unfortunately, many of the institutions that claim to specialize in helping veterans do the opposite. High fees and higher rates.
I happen to meet one such veteran a couple months ago. He was also working with a lender who didn't have his best interests at heart. The other lender was charging processing fees, underwriting fees and almost $10,000 in discount points! I was able to offer the same exact rate with no points or fees - a savings of $12,000, plus I can almost guarantee that our customer service was MUCH better! 😊
Helping people (and helping people save money) is what makes LendFriend so special. I hope we can have many more of these stories in 2025!
Key reporting dates this week:
Mon, 1/6: S&P final U.S. services PMI, Factory, Presidential Election Certification
Tues, 1/7: U.S. trade deficit, Job openings
Wed, 1/8: ADP employment, Minutes of Fed's December FOMC meeting, Consumer Credit
Thurs, 1/9: Initial jobless claims, Wholesale inventories
Fri, 1/10: U.S. employment report
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About the Author:
Eric Bernstein is the President and Co-Founder of LendFriend Mortgage, where he helps homebuyers make smarter, more confident decisions in today’s fast-moving housing market. With over a decade of experience guiding hundreds of clients—from first-time buyers to seasoned investors—Eric brings a mix of market insight, strategy, and personalized service to every mortgage transaction. Each week, Eric breaks down the housing and economic headlines that matter, giving readers a clear, no-fluff view of what’s happening and how it might impact their buying power.