Mortgage Rates Ease—and Housing Demand Finally Finds Its Footing
After months of pressure on prospective homebuyers, a modest shift in mortgage rates offered a welcome pause in housing’s downward slide. Rates moved toward 7.30% during a turbulent week in the bond market, as the 10-year Treasury yield slipped below 5%. That change does not make homes suddenly affordable, nor does it guarantee a lasting decline. But when borrowing costs stop climbing, some buyers who had stepped back may begin reconsidering their plans—and sellers may see renewed interest. For veterans, the movement matters alongside a benefit many earned through service: the VA home loan program. Eligible borrowers may qualify for a mortgage with no down payment and without private mortgage insurance, subject to lender and program requirements. Those features can reduce upfront costs, but they do not erase closing expenses, taxes, insurance, or the effect of a high interest rate. Even a small rate change can alter a monthly payment and the total interest paid over time, making it ...