By Dennis Norman, on July 24th, 2025 
The St. Louis real estate market is experiencing a modest rise in mortgage rates this July, with the 30-Year Fixed rate now reaching 6.78%, a slight increase of 0.01%. Similarly, the 15-Year Fixed rate has also edged up to 6.04%. These incremental changes mark a continuing trend of rising rates in the region, impacting both prospective homebuyers and sellers. The increase, though minor, continues to push the rates to some of the highest levels seen this year, particularly affecting the affordability and buying power of those looking to enter the housing market.
For potential buyers in St. Louis, these rising Continue Reading →
By Dennis Norman, on July 17th, 2025
In the ever-evolving real estate market of St. Louis, mortgage rates are showing nuanced movements as of July 2025. The 30-Year Fixed mortgage rate has experienced a slight decrease to 6.83%, down by 0.02%. Conversely, the 15-Year Fixed rate has inched up by 0.01%, settling at 6.08%. These shifts reflect a broader rising trend in the market, with other mortgage types like the 30-Year FHA and Jumbo rates also climbing, indicating a mixed yet predominantly upward trajectory in rate changes.
For potential homebuyers and sellers in the St. Louis area, these fluctuations could have significant implications. The slight drop in Continue Reading →
By Dennis Norman, on July 10th, 2025
As of July 2025, the St. Louis real estate market is experiencing a minor but welcome drop in mortgage rates, signaling a slight relief for prospective homebuyers. The 30-Year Fixed mortgage rate has decreased by 0.04%, now standing at 6.77%. Simultaneously, the 15-Year Fixed mortgage rate also saw a reduction of 0.04%, positioning it at 5.98%. These adjustments, though modest, contribute to a broader trend of falling rates within the region, offering a potential window of opportunity for those looking to secure a home loan at a slightly more favorable rate.
For buyers and sellers in the St. Louis area, Continue Reading →
By Dennis Norman, on July 3rd, 2025
As the St. Louis real estate market navigates through summer, mortgage rates continue their upward trajectory. Today, the 30-year fixed mortgage rate has inched up by 0.06% to 6.73%, marking a significant rise that impacts both potential homebuyers and sellers in the area. Similarly, the 15-year fixed rate also rose by 0.06%, settling at 5.97%. These increases are part of a broader trend that sees rates steadily climbing, affecting affordability and buyer demand.
For St. Louis residents, these rising rates mean recalculating budgets and potentially adjusting their buying power. Higher rates can add considerable cost over the life of a Continue Reading →
By Dennis Norman, on July 2nd, 2025 
Here’s an update on the One Big Beautiful Bill, fresh from its razor-thin Senate win and heading to the House.
Bottom line for the St. Louis market: The Senate kept nearly all the real-estate perks from the original plan and added a few new benefits that could mean lower taxes for homeowners across the metro, extra take-home pay for small landlords, and more funding for affordable housing projects.
What stayed the same:
Tax brackets and the standard deduction remain locked in and permanent. No surprise rate hikes in 2026. The tax break for small Continue Reading →
By Dennis Norman, on June 26th, 2025
In the latest financial update for the St. Louis area, mortgage rates have shown a marginal decrease, providing a slight relief to potential homebuyers. As of June 2025, the 30-Year Fixed mortgage rate has dipped to 6.79%, a small decrease of 0.03%. Similarly, the 15-Year Fixed rate has fallen by 0.02%, now standing at 6.02%. These adjustments represent a continuing trend of falling rates, albeit still hovering at higher levels, with the 30-Year rates maintaining above the 6.5% mark.
The impact of these changes on the St. Louis real estate market could be significant, particularly for buyers who are navigating Continue Reading →
By Dennis Norman, on June 19th, 2025
In St. Louis, the mortgage landscape is experiencing a minor but welcome decrease in rates as of June 2025. The 30-year fixed mortgage rate has edged down slightly to 6.87%, a decrease of 0.01%, while the 15-year fixed rate has also dropped by 0.03% to 6.13%. These changes, though modest, continue the overall downward trend in the local mortgage rate environment, providing some relief to homebuyers amidst rates that remain historically high.
For potential homebuyers and sellers in the St. Louis area, these rate adjustments mean slightly lower borrowing costs, which could enhance buying power in a market that has Continue Reading →
By Dennis Norman, on June 12th, 2025
In a modest respite for potential homebuyers, St. Louis mortgage rates have shown a fractional decrease as of June 2025, with the 30-Year Fixed Rate now sitting at 6.89%, a slight decline of 0.04%. The 15-Year Fixed Rate has also seen a minimal drop, now at 6.20%, down by 0.01%. While these changes may seem minimal, in the context of rates consistently above 6.5%, any reduction can be significant for those financing a home purchase.
For buyers and sellers in the St. Louis area, these changes signal a potentially cooling market, where slightly lower rates could enhance buying power, albeit Continue Reading →
By Dennis Norman, on June 5th, 2025
In a welcome shift for potential homeowners, mortgage rates in St. Louis have experienced a slight decrease as of June 2025. The 30-Year Fixed mortgage rate has dipped to 6.87%, a reduction of 0.09%, maintaining a level above the 6.5% threshold but showing signs of easing. Similarly, the 15-Year Fixed rate has also decreased by 0.09%, now at 6.12%. This downward trend offers a slight reprieve for buyers in the St. Louis real estate market who have been facing high rates in recent times.
The impact of these changes on the St. Louis housing market is significant, especially for first-time Continue Reading →
By Dennis Norman, on May 29th, 2025
In the ever-dynamic St. Louis real estate market, mortgage rates have shown a slight decrease as of May 2025, providing a small but notable relief for prospective homebuyers. The 30-Year Fixed Rate mortgage, a popular choice among residents, has edged down by 0.01% to 6.97%. Similarly, the 15-Year Fixed Rate has decreased by 0.02%, settling at 6.23%. This trend of falling rates, although modest, points towards a potentially more accessible market for buyers.
For sellers in the St. Louis area, the current rate adjustments mean maintaining a competitive edge in pricing their homes to attract buyers who are keen to Continue Reading →
By Dennis Norman, on May 23rd, 2025
As of May 2025, the St. Louis real estate market is experiencing subtle shifts in mortgage rates, which are crucial for both potential home buyers and current homeowners considering refinancing. The 30-Year Fixed Rate has seen a slight increase to 7.08%, up by 0.09% from the previous period. This uptick suggests a tightening in lending conditions, potentially influencing buyer affordability in the St. Louis area. Similarly, the 15-Year Fixed Rate has risen to 6.39%, marking a change of 0.04%.
For those looking at more substantial home purchases, the 30-Year Jumbo Rate currently stands at 7.13%, closely aligning with the standard Continue Reading →
By Dennis Norman, on May 15th, 2025
As of May 2025, the St. Louis real estate market is experiencing shifts in mortgage rates that are essential for both potential home buyers and current homeowners considering selling. The 30-Year Fixed Rate has seen a slight increase to 6.99%, a change of +0.07% from previous figures. Similarly, the 15-Year Fixed Rate has risen to 6.34%, marking an increase of +0.08%. These adjustments might influence buyer affordability and seller market timing in the region.
For those looking into larger, more expensive properties, the 30-Year Jumbo Rate stands at 7.10%, while the more accessible FHA loans are available at a rate Continue Reading →
By Dennis Norman, on May 8th, 2025
As we navigate the complexities of the St. Louis real estate market in May 2025, understanding the current mortgage rates is crucial for both potential home buyers and sellers. The latest data provided by MORE, REALTORS® indicates a slight decrease in interest rates, which could influence decision-making processes in the housing market. The 30-Year Fixed Rate now stands at 6.86%, showing a minor reduction of 0.02%. Similarly, the 15-Year Fixed Rate has also decreased by 0.02%, currently at 6.19%. These small changes suggest a relatively stable interest rate environment.
For those considering more substantial home purchases, the 30-Year Jumbo Rate Continue Reading →
By Dennis Norman, on May 1st, 2025
As of May 2025, the St. Louis real estate market is experiencing a variety of mortgage rate options that cater to different types of buyers and refinancing needs. The 30-Year Fixed Rate remains steady at 6.81%, indicating a stable lending environment. On the other hand, the 15-Year Fixed Rate has seen a slight decrease to 6.15%, down by 0.02%, which might appeal to homeowners looking to refinance and pay off their loans faster.
For those considering larger, more expensive properties, the 30-Year Jumbo Rate is currently at 6.95%. This rate is slightly higher than the standard fixed rates, reflecting the Continue Reading →
By Dennis Norman, on April 24th, 2025
As of April 2025, the St. Louis real estate market is experiencing a shift in mortgage rates that potential home buyers and sellers should consider. The 30-Year Fixed Rate has climbed slightly to 6.95%, marking an increase of 0.10% from previous figures. Similarly, the 15-Year Fixed Rate has risen to 6.37%, up by 0.13%. These changes indicate a trend towards rising mortgage costs in the region, which could influence buying decisions and market dynamics.
For those considering more substantial home purchases, the 30-Year Jumbo Rate stands at 7.05%, while the 30-Year FHA Rate is notably lower at 6.42%. Additionally, the Continue Reading →
By Dennis Norman, on April 17th, 2025
As of April 2025, the St. Louis real estate market is experiencing a dynamic shift in mortgage rates, crucial for both potential homebuyers and current homeowners considering refinancing. The 30-year fixed mortgage rate has seen a slight increase to 6.95%, up by 0.10% from the previous month. Similarly, the 15-year fixed rate has risen to 6.37%, marking a 0.13% increase. These changes reflect broader economic trends impacting borrowing costs.
For those looking at more substantial properties, the 30-year jumbo loan rate stands at 7.05%, slightly higher than conventional loan rates, indicating a premium for higher loan amounts. Conversely, more affordable Continue Reading →
By Dennis Norman, on April 10th, 2025 
Mortgage interest rates have bounced back after briefly dipping earlier this month, but there’s more to the story—especially for St. Louis home buyers. One key factor keeping rates from climbing even higher? The recent postponement of tariffs, which has helped ease economic pressure and may be keeping mortgage rates from surging faster.
As of today, the average rate for a 30-year fixed-rate conventional loan is around 6.95%, with FHA loans at 6.42% and VA loans at 6.45%. These numbers reflect an uptick from the recent low of about 6.40% on April 4th, but still sit below the 7.16% average we Continue Reading →
By Dennis Norman, on April 9th, 2025
As of April 2025, the St. Louis real estate market is witnessing subtle shifts in mortgage rates, critical for both potential home buyers and current homeowners considering refinancing. The 30-year fixed mortgage rate has seen a slight increase to 6.85%, a change of +0.03% from the previous figure. Similarly, the 15-year fixed rate has adjusted upward by +0.04%, now standing at 6.24%. These changes indicate a modest tightening in borrowing costs, which could influence buyer affordability and market dynamics in the St. Louis area.
For those looking at more substantial home purchases, the 30-year jumbo loan rate remains steady at Continue Reading →
By Dennis Norman, on February 22nd, 2025 
The latest interest rates as of February 21, 2025, bring good news for homebuyers in St. Louis. The 30-year fixed rate has dipped to 6.89 making it more affordable for potential buyers to secure a mortgage. The 15-year fixed rate is now 6.37%, offering even more savings. Jumbo loans have seen a significant drop, with the 30-year jumbo rate7.7.227.22 by 0.08%. Adjustable-rate mortgages like the 5/1 and 5/6 SOFR ARM are relatively s5.52 with minor decreases. FHA and VA loans have also seen reductions, making them attractive options for For the St. Louis real estate market, these changes present opportunities Continue Reading →
By Dennis Norman, on January 16th, 2025 
Based on the chart provided, the Purchase Index, which tracks mortgage applications for home purchases, has shown slight fluctuations over the past year. Notably, the trend reflects a stabilization in demand despite the persistent upward trajectory of mortgage rates, which now hover near 7%. This indicates resilience among homebuyers, who continue to pursue purchases despite rising costs.
Higher interest rates typically discourage borrowing, but this data suggests that the housing market is finding ways to adapt. If you’re navigating today’s market, working with an experienced brokerage like MORE, REALTORS® can help you identify opportunities that fit your goals.
The Continue Reading →
By Dennis Norman, on January 3rd, 2025 
The Risks of HELOC Wire Fraud: A Case Study for St. Louis Homeowners
A recent lawsuit, Skertich vs. Shellpoint Mortgage Servicing and Alliant Credit Union, highlights alarming vulnerabilities in Home Equity Lines of Credit (HELOCs) when it comes to wire fraud. According to the complaint, a fraudulent wire transfer amounting to $425,650 was authorized using counterfeit documents and improper verification processes. Despite clear red flags, such as mismatched signatures and suspicious IP addresses, the financial institutions involved processed the transaction. This serves as a stark reminder for homeowners in St. Louis and beyond to exercise caution with HELOC accounts.
The Continue Reading →
By Dennis Norman, on October 17th, 2024 
On October 15, 2024, the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) announced a settlement with Fairway Independent Mortgage Corporation following allegations of discriminatory lending practices, or redlining, in predominantly Black neighborhoods in Birmingham, Alabama. As part of the resolution, Fairway agreed to pay $8 million in relief and a $1.9 million civil penalty to address claims that it avoided providing credit services in these communities due to residents’ race and national origin.
The settlement contributes to the DOJ’s broader efforts through the Combating Redlining Initiative, which has secured over $150 million in relief since its Continue Reading →
By Dennis Norman, on September 18th, 2024 
The Federal Reserve made an important announcement today that could have a ripple effect on the real estate market in St. Louis and beyond. In their latest meeting, the Federal Open Market Committee (FOMC) decided to lower the federal funds rate by half a percentage point, bringing the target range down to 4.75% to 5%. This move comes as the Fed notes continued solid economic activity but acknowledges that job gains have slowed, and inflation, while improving, still remains above their 2% target.
For homebuyers and real estate investors, this rate cut could lead to a slight reduction in borrowing Continue Reading →
By Dennis Norman, on September 11th, 2024
The interest rate on a 30-year fixed-rate conventional mortgage fell to 6.22% yesterday, according to the MND rate index as shown in the chart below. This marks the lowest rate in nearly a year and a half! The last time rates were this low was back on April 6, 2023 when they dropped to 6.18% for the day. This drop in rates comes in advance of the anticipated rate reduction when the Federal Open Market Committee (FOMC) meetings next week.
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Mortgage Interest Rates – 30-Year Fixed Rate Continue Reading →
By Dennis Norman, on August 13th, 2024 
The Consumer Financial Protection Bureau (CFPB) has released a comprehensive report highlighting the risks and challenges associated with “contracts for deed,” a form of seller financing often used as an alternative to traditional mortgages. While these contracts can provide a pathway to homeownership for some, the report underscores the significant dangers they pose, particularly to vulnerable populations, including low-income, Black, Hispanic, and immigrant communities.
Contracts for deed are often characterized by substandard housing, inflated prices, and a lack of consumer protections. Buyers assume all responsibilities of homeownership, yet they do not gain legal title until all payments are completed, Continue Reading →
By Dennis Norman, on August 5th, 2024 
According to a recent study by LendingTree, Missouri ranks 9th in the nation for the lowest monthly mortgage payment. The report reveals that while the average monthly payment on a new mortgage in the U.S. is $2,317, Missouri’s average monthly payment is $1,792. This makes Missouri’s payments approximately 23% less than the national average, positioning it favorably among states with more affordable housing costs. This is particularly notable considering the current economic climate, where mortgage rates remain relatively high, and home prices continue to be steep.
The LendingTree analysis, which examined mortgages offered across the nation from January 1 through Continue Reading →
By Dennis Norman, on July 30th, 2024
UPDATE: Friday, August 2, 2024…Today, after the jobs report and other economic data was released, mortgage interest rates fell to 6.40% on a 30-year fixed rate mortgage, the lowest level in nearly 16 months…the last time rates were this low was in early April 2023.
The interest rate on a 30-year fixed-rate conventional mortgage fell to 6.80% today, according to the MND rate index as shown in the chart below. This marks the lowest rate in over six months, since January 9th of this year when rates were at 6.80% as well. This drop in rates comes as the Federal Continue Reading →
By Dennis Norman, on July 16th, 2024
Mortgage interest rates for a 30-year fixed-rate mortgage dipped to 6.81% this week, the lowest level since February 1 when the rate fell to 6.63%. The rate for a 30-year fixed-rate FHA loan fell to 6.26%. This has a significant impact on the cost of a home. For example, a change of just 0.5% in the interest rate can alter the house payment on a typical median-priced home in St. Louis by nearly $100.
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Mortgage Interest Rates
(click image below for live, interactive chart)
Continue Reading →
By Dennis Norman, on June 11th, 2024 
The Department of Veterans Affairs (VA) has introduced a temporary variance allowing veterans to pay certain buyer-broker charges when using their VA-guaranteed home loan benefits. This change comes in response to the recent National Association of Realtors (NAR) settlement, which now prohibits the publication of buyer-agent compensation in Multiple Listing Services (MLS). The concern is that many sellers may no longer offer a commission to buyer agents, potentially making it challenging for veterans to secure representation. By allowing veterans to pay these charges directly, the VA aims to ensure they remain competitive in the current real estate market.
At MORE, Continue Reading →
By Dennis Norman, on May 30th, 2024 
The Consumer Financial Protection Bureau (CFPB) has issued a Request for Information (RFI) regarding fees imposed in residential mortgage transactions. This initiative aims to gather insights and comments from the public about the escalating costs associated with obtaining a mortgage. As homeowners and prospective buyers, this is an opportunity for you to voice your experiences and concerns regarding these fees.
From 2021 to 2023, the median total loan costs for home purchase loans surged by over 36%, with the median dollar amount paid by borrowers in 2022 nearing $6,000. These rising costs, coupled with increased home prices and interest rates, Continue Reading →
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