Author Archive: John Sauro

Mortgage rates surge over 7% as tariffs hit bond market

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April 11, 2025

“It’s certainly a roller coaster for mortgage rates. However, I believe this will pass and rates will move lower in the long run.  So, for those in the market for a home, don’t let the higher rates stop you from buying your home, as long as it’s affordable. Then, look to refinance to a lower rate in the months to come.

John Sauro,

President,

North Atlantic Mortgage Corp.

 

Mortgage rates surge over 7% as tariffs hit bond market

The average rate on the popular 30-year fixed mortgage surged 13 basis points Friday to 7.1%, according to Mortgage News Daily. That’s the highest rate since mid-February.

Mortgage rates have been on a roller coaster ride all week, as bond yields spiked higher mid-week when President Donald Trump’s new tariffs on dozens of countries went into effect. Yields dropped when Trump lowered the tariff rate on most countries hours later. Tariffs on Chinese imports, however, currently stand at 145%.

But bonds began selling off again Friday, despite a cooler-than-expected inflation report. Mortgage rates loosely follow the yield on the 10-year Treasury.

“There have been some bad weeks for bonds here and there over the careers of most anyone who’s alive to read these words, but unless your career began before 1981, you just lived through the worst week you’ve ever seen in terms of the jump in 10-year yields,” said Matthew Graham, chief operating officer at Mortgage News Daily.

Graham said there are two ways to look at where bonds are trading today: “This is either the end of the worst week for 10-year yields since 1981 or the end of a fairly average two weeks that fit right in with the trend of the past 18 months.”

On Friday, another monthly report on consumer sentiment came in substantially lower than expected. The expectation for inflation jumped from 5% in March to 6.7% in April, the highest level since 1981.

All of this comes right in the heart of the all-important spring housing market. For most consumers, a home is their single largest investment.

“Forget about housing in this environment, with mortgage rates back up, consumers certainly concerned about the job market, housing will also be on the weak side,” said Nancy Lazar, chief global economist at Piper Sandler, on CNBC’s “The Exchange” on Friday.

Source: CNBC

A Policy Solution to Unlock Housing Market Growth

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A Policy Solution to Unlock Housing Market Growth

By John Sauro, President, North Atlantic Mortgage Corp.

February 24, 2025

The U.S. housing market is stuck in a cycle of stagnation. Millions of homeowners are unwilling to sell because they currently hold mortgages with historically low interest rates, often half of today’s rates. This reluctance to move limits housing inventory, drives up prices, and prevents a healthy buy-sell ratio.

The Scope of the Problem

Today, 33.9% of homeowners have mortgages with interest rates between 3% and 4%, totaling around $4.05 trillion. Even if just 5% of them decide to move, that could represent over $200 billion worth of potential home sales—shifting inventory and reshaping the housing market.
Even as interest rates decline, they will not return to the artificially low levels of the past.

A Market-Based Solution: Collateral Substitution

A policy allowing collateral substitution would enable homeowners to keep their existing mortgage rates while moving to a new home. Here’s how it would work:

  • Upon selling their current home, the homeowner’s mortgage is held in escrow.
  • When they purchase a new home, the escrowed funds are applied, and the original mortgage is transferred to the new property.
  • The new home serves as the collateral for the existing mortgage (provided that the new home is of equal or greater value)
  • If additional funds are needed, a second mortgage can be obtained at the prevailing rates.

This policy would require cooperation from Fannie Mae, Freddie Mac, banks, and mortgage servicing companies. However, it does not require taxpayer-funded subsidies, making it a fiscally responsible solution.

Action Needed from Policymakers

The Trump Administration has the authority to direct federal housing agencies and banking regulators to implement collateral substitution. By doing so, policymakers can:

  • Free up housing inventory and create market fluidity.
  • Stimulate economic growth through increased home sales.
  • Provide a path for homeowners to move without taking on unsustainable mortgage costs.

This is a market-driven, common-sense solution that balances economic stimulation with fiscal responsibility. The housing market needs movement—and collateral substitution is the key to unlocking it.

No One Wants to Refinance Now!

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Many of my clients refinanced into very low rates a couple of years ago.

THEY NEED $$$ now, but don’t want to refinance into today’s higher rates.

If you are in the same boat.

Consider a Home Equity Loan or Line of Credit.

Use it to Pay off high interest rate credit cards, pay for college or for what ever reason.

It’s Fast & Easy!

Call me for more information.

John Sauro

Ph: 914-610 0095

email: John@NorthAtlanticMortgage.com

North Atlantic Mortgage Corp.

North Atlantic Mortgage Corp. 18 Kitchawan Rd., Pound Ridge NY 10576. CT Mortgage Broker CT Department of Finance. MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER NMLS #1375 & 42481. * Registered Mortgage Broker NYS Department of Finance, Loans arranged through third party providers.

What Homes Will Be Worth in Your State by the End of 2023

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8 MIN READ
August 30, 2022
By Alexandria Bova

The housing market has gone through some significant swings since the start of the pandemic in 2020. Despite a temporary lull in early 2020, the market rebounded hotter than ever in 2021. As we’ve rolled into 2022, the housing rush is simmering down just a little but not much. The median home price in January 2022 was $350,300, as compared to $356,700 from August 2021, according to the National Association of Realtors. And now, according to Zillow, the median home price is $331,533, with a predicted median of $390,546 by the end of 2023.

To figure out the value of homes in 2023 across the country, GOBankingRates analyzed median home values from February 2022 using Zillow’s forecast tool to predict the increase or decrease in home values by state to assess where home values will be in February of 2023. The study ranked each state according to its median home value, beginning with the lowest.

It is important to note that GOBankingRates used the median home value instead of the median home price by state, because value accounts for more factors, such as comparable home sales and inspections. Median home value is an estimate of what the property is actually worth, while the median list price is based on demand and listing agent.

50. West Virginia

  • Median home value in 2022: $129,518
  • Projected one-year growth rate: 10.39%
  • Forecasted median home value in 2023: $142,975
  • Home value change in year 2022-2023: $13,457

49. Mississippi

  • Median home value in 2022: $157,559
  • Projected one-year growth rate: 10.62%
  • Forecasted median home value in 2023: $174,292
  • Home value change in year 2022-2023: $16,733

48. Arkansas

  • Median home value in 2022: $169,508
  • Projected one-year growth rate: 13.36%
  • Forecasted median home value in 2023: $192,154
  • Home value change in year 2022-2023: $22,646

47. Oklahoma

  • Median home value in 2022: $171,299
  • Projected one-year growth rate: 13.01%
  • Forecasted median home value in 2023: $193,585
  • Home value change in year 2022-2023: $22,286

46. Iowa

  • Median home value in 2022: $184,676
  • Projected one-year growth rate: 10.38%
  • Forecasted median home value in 2023: $203,845
  • Home value change in year 2022-2023: $19,169

45. Kentucky

  • Median home value in 2022: $188,752
  • Projected one-year growth rate: 12.94%
  • Forecasted median home value in 2023: $213,177
  • Home value change in year 2022-2023: $24,425

44. Alabama

  • Median home value in 2022: $193,601
  • Projected one-year growth rate: 14.18%
  • Forecasted median home value in 2023: $221,054
  • Home value change in year 2022-2023: $27,453

43. Kansas

  • Median home value in 2022: $198,134
  • Projected one-year growth rate: 12.79%
  • Forecasted median home value in 2023: $223,475
  • Home value change in year 2022-2023: $25,341

42. Louisiana

  • Median home value in 2022: $207,009
  • Projected one-year growth rate: 8.07%
  • Forecasted median home value in 2023: $223,715
  • Home value change in year 2022-2023: $16,706

41. Ohio

  • Median home value in 2022: $201,285
  • Projected one-year growth rate: 14.67%
  • Forecasted median home value in 2023: $230,814
  • Home value change in year 2022-2023: $29,529

40. Indiana

  • Median home value in 2022: $210,442
  • Projected one-year growth rate: 14.52%
  • Forecasted median home value in 2023: $240,998
  • Home value change in year 2022-2023: $30,556

39. Missouri

  • Median home value in 2022: $218,486
  • Projected one-year growth rate: 12.94%
  • Forecasted median home value in 2023: $246,758
  • Home value change in year 2022-2023: $28,272

38. Michigan

  • Median home value in 2022: $223,744
  • Projected one-year growth rate: 14.59%
  • Forecasted median home value in 2023: $256,388
  • Home value change in year 2022-2023: $32,644

37. Nebraska

  • Median home value in 2022: $231,115
  • Projected one-year growth rate: 13.22%
  • Forecasted median home value in 2023: $261,668
  • Home value change in year 2022-2023: $30,553

36. Illinois

  • Median home value in 2022: $255,179
  • Projected one-year growth rate: 10.82%
  • Forecasted median home value in 2023: $282,789
  • Home value change in year 2022-2023: $27,610

35. Wisconsin

  • Median home value in 2022: $252,959
  • Projected one-year growth rate: 13.19%
  • Forecasted median home value in 2023: $286,324
  • Home value change in year 2022-2023: $33,365

34. Pennsylvania

  • Median home value in 2022: $255,547
  • Projected one-year growth rate: 12.68%
  • Forecasted median home value in 2023: $287,950
  • Home value change in year 2022-2023: $32,403

33. North Dakota

  • Median home value in 2022: $271,804
  • Projected one-year growth rate: 7.20%
  • Forecasted median home value in 2023: $291,374
  • Home value change in year 2022-2023: $19,570

32. New Mexico

  • Median home value in 2022: $278,513
  • Projected one-year growth rate: 13.26%
  • Forecasted median home value in 2023: $315,444
  • Home value change in year 2022-2023: $36,931

31. South Carolina

  • Median home value in 2022: $271,002
  • Projected one-year growth rate: 16.95%
  • Forecasted median home value in 2023: $316,937
  • Home value change in year 2022-2023: $45,935

30. South Dakota

  • Median home value in 2022: $279,031
  • Projected one-year growth rate: 14.59%
  • Forecasted median home value in 2023: $319,742
  • Home value change in year 2022-2023: $40,711

29. Tennessee

  • Median home value in 2022: $276,250
  • Projected one-year growth rate: 18.19%
  • Forecasted median home value in 2023: $326,500
  • Home value change in year 2022-2023: $50,250

28. Texas

  • Median home value in 2022: $290,527
  • Projected one-year growth rate: 15.29%
  • Forecasted median home value in 2023: $334,949
  • Home value change in year 2022-2023: $44,422

27. North Carolina

  • Median home value in 2022: $297,030
  • Projected one-year growth rate: 17.14%
  • Forecasted median home value in 2023: $347,941
  • Home value change in year 2022-2023: $50,911

26. Georgia

  • Median home value in 2022: $296,056
  • Projected one-year growth rate: 17.79%
  • Forecasted median home value in 2023: $348,724
  • Home value change in year 2022-2023: $52,668

25. Wyoming

  • Median home value in 2022: $309,063
  • Projected one-year growth rate: 13.45%
  • Forecasted median home value in 2023: $350,632
  • Home value change in year 2022-2023: $41,569

24. Alaska

  • Median home value in 2022: $328,365
  • Projected one-year growth rate: 7.53%
  • Forecasted median home value in 2023: $353,091
  • Home value change in year 2022-2023: $24,726

23. Minnesota

  • Median home value in 2022: $326,253
  • Projected one-year growth rate: 12.17%
  • Forecasted median home value in 2023: $365,958
  • Home value change in year 2022-2023: $39,705

22. Delaware

  • Median home value in 2022: $333,809
  • Projected one-year growth rate: 14.61%
  • Forecasted median home value in 2023: $382,578
  • Home value change in year 2022-2023: $48,769

21. Vermont

  • Median home value in 2022: $342,217
  • Projected one-year growth rate: 12.74%
  • Forecasted median home value in 2023: $385,815
  • Home value change in year 2022-2023: $43,598

20. New York

  • Median home value in 2022: $352,611
  • Projected one-year growth rate: 12.97%
  • Forecasted median home value in 2023: $398,345
  • Home value change in year 2022-2023: $45,734

19. Maine

  • Median home value in 2022: $339,212
  • Projected one-year growth rate: 18.29%
  • Forecasted median home value in 2023: $401,254
  • Home value change in year 2022-2023: $62,042

18. Virginia

  • Median home value in 2022: $362,633
  • Projected one-year growth rate: 12.47%
  • Forecasted median home value in 2023: $407,853
  • Home value change in year 2022-2023: $45,220

17. Connecticut

  • Median home value in 2022: $360,948
  • Projected one-year growth rate: 14.48%
  • Forecasted median home value in 2023: $413,213
  • Home value change in year 2022-2023: $52,265

16. Maryland

  • Median home value in 2022: $399,585
  • Projected one-year growth rate: 12.36%
  • Forecasted median home value in 2023: $448,974
  • Home value change in year 2022-2023: $49,389

15. Florida

  • Median home value in 2022: $373,735
  • Projected one-year growth rate: 22.04%
  • Forecasted median home value in 2023: $456,106
  • Home value change in year 2022-2023: $82,371

14. Rhode Island

  • Median home value in 2022: $418,342
  • Projected one-year growth rate: 16.82%
  • Forecasted median home value in 2023: $488,707
  • Home value change in year 2022-2023: $70,365

13. New Hampshire

  • Median home value in 2022: $428,187
  • Projected one-year growth rate: 16.31%
  • Forecasted median home value in 2023: $498,024
  • Home value change in year 2022-2023: $69,837

12. Montana

  • Median home value in 2022: $426,273
  • Projected one-year growth rate: 17.76%
  • Forecasted median home value in 2023: $501,979
  • Home value change in year 2022-2023: $75,706

If you’re a prospective homebuyer, you’re likely in a tough spot. While you may be tempted to wait for interest rates to drop, if you wait too long, you could be dealing with a surge in home prices.

In a recent Fox Business interview, real estate entrepreneur and “Shark Tank” star Barbara Corcoran shared her prediction for when home prices will rise, how much she expects them to increase and more.

Lower Interest Rates Will Mean Higher Home Prices

We’re currently experiencing a “bottleneck” in the real estate market, Corcoran said, but this won’t last forever.

“Sellers don’t want to move from their apartment or their home because they don’t want to take on higher interest rates,” she said, “and buyers are too afraid [to buy] because they are getting less house [for the price]. So you’ve got a standoff going on. But things are changing.”

Corcoran believes there will be a major swing in the real estate market as soon as interest rates drop.

“The minute those interest rates come down, all hell’s going to break loose and the prices are going to go through the roof,” she said. “[Right now sellers are] staying put. But they’re not going to stay put if interest rates go down by two points.

“It’s going to be a signal for everybody to come back out and buy like crazy, and the house prices [will likely] go up by 20%,” she said. “We could have COVID [market] all over again.”

Home Prices and Market Trends Will Continue To Vary Greatly Geographically

Although a recent report found that home prices experienced their first annual decline in 11 years, Corcoran noted that has not been the case everywhere in the U.S.

“In the coastal areas, prices are going down because houses are just so not affordable,” she said. “But if you look in the Southwest, prices are going up. You have some cities where prices are rebounding by 20% in six months.”

Another area where prices will continue to rise is South Florida.

“[Home prices in South Florida] are still going up, and it’s one of the hottest markets,” Corcoran said. “People love Florida, and people are paying anything. I don’t get it — it’s not my cup of tea — but it’s doing very, very well.”

Don’t Expect a Major Housing Market Crash

Although we are facing a precarious real estate market, Corcoran said we won’t see a catastrophic housing market collapse like the one that occurred in 2008, due in large part to the subprime mortgage crisis.

“People [have] their hard-earned cash in the market — people aren’t overleveraged,” she said. “There’s really no comparison to now compared to what came before.”

The Commercial Real Estate Market Will Be Very Slow To Recover (If It Ever Does)

Corcoran views the residential and commercial real estate markets as separate entities, and so a recovery of one does not mean there will be a recovery in the other. She believes it could be a long time before commercial real estate rebounds.

“No one has the confidence to buy [commercial real estate] now,” Corcoran said. “No one really believes it’s going to turn the corner. People are staying home. Our best offices in midtown Manhattan are 50% occupied, and in most major cities, and even secondary cities, we have a 20% vacancy rate. No one wants to take that chance. I don’t see that turning around. I think it’s going to be a bit of a bloodbath before it gets better.”

*Author: Gabrielle Olya

The best way to find out if refinancing is right for you is to talk with a mortgage expert today!

John Sauro, Loan Officer
Phone: 1-877-794-5363
Direct Line: 914-610 0095
Email: john@northatlanticmortgage.com

Mortgage rate info

Home Sales Show Strength

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Lowest Rates in 50 Years

2.205% APR 15 Year Fixed

2.938% APR 30 Year Fixed

Home Purchases are showing quite a bit of strength with inventory levels down 12% from last year. Refinances were up 7% last week and are now down 5% on a year over year basis, also being compared to some high figures from last year. The refinance share of applications increased slightly to 66% of total volume. Interest rates were nearly the same as they were this time last year.

The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices rose 2.2% in June and 18.6% year over year, which is a record and up almost 2% from the annual price gains seen in the previous report and is a record high

Bottom line – We are still seeing strong levels of demand purchases, which has accelerated over the last two weeks.

The Fed will of course leave rates unchanged, but the focus will be on tapering clues. We believe the Fed will leave most of their statement unchanged and will want to wait until the November 3 Meeting before announcing tapering. They will likely want to wait to see how back to school goes as well as the impact of the delta variant. Additionally, the August Jobs Report was weak and inflation moved modestly lower. As we have mentioned, we think that inflation will start to rise again as the previous reading was removing some high figures from last year, skewing the year over year figures. In the coming months the inflation reports will be replacing lower figures.

*The Annual Percentage Rate is based on a single family owner occupied purchase or rate & term home loan with a maximum loan amount of $548,250, a 2.00 % interest rate, $506.00 in points, a 30 day rate lock, Fixed Rate for 15 Years with 180 monthly payments of $3,529.00, a 80% Loan to Value, and a minimum credit score of 700.**The Annual Percentage Rate is based on a single family owner occupied purchase or rate & term refinance home loan with a maximum loan, amount of 548,250 a 2.875% interest rate, $2,151 in points, 30day rate lock, Fixed Rate for 30 Years with 360 monthly payments of $2,275 a 80% Loan to Value, and a minimum credit score of 700 . **** The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. The rates quoted are for home purchase or Rate & Term Refinance loans. Refinance cash out loans may have a higher rate. The rates may change or not be available at commitment or closing or may be subject to product restrictions. Offer subject to credit approval. Rates advertised are as of Sept 13, 2021.  Rates are subject to change without notice. 178 Trinity Pass, Pound Ridge NY 10576. CT Mortgage Broker CT Department of Finance. MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER NMLS #1375 & 42481. Registered Mortgage Broker NYS Department of Finance, This Website is Not Authorized by the NYDFS.  NY Clients please call 877-794 5363 as no NY applications can be taken from this site. Registered Mortgage Broker Florida Office of Financial Regulation. Loans arranged through third party providers. Verify our licensing information at www.nmlsconsumeraccess.org

what todays mortgage rates

Todays Mortgage Rates

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Mortgage Rates Plummet to
Lowest Levels in 50 Years!

 2.379%APR
15 Year Fixed

3.06% APR
30 Year Fixed

Restrictions apply

Need expert advice on a new loan?
Contact me to save big on refinancing your home.
Call: John Sauro 914-764-3261
john@northatlanticmortgage.com

Stephanie S. saved more than $2,100 per month
on her mortgage and she closed in 23 days. REALLY!

Purchase Home Loans – Debt Consolidation – Reverse Mortgage – Home Buyer Loans

Restrictions Apply *The Annual Percentage Rate is based on a single family owner occupied purchase or rate & term home loan with a maximum loan amount of $548,250 2.125% interest rate, with discount points of $2,474.00 for a 30 day rate lock, Fixed Rate for 15 Years with 180 monthly payments of $3,559.68, a 80% Loan to Value, and a minimum credit score of 740.**The Annual Percentage Rate is based on a single family owner occupied purchase or rate & term refinance home loan with a maximum loan amount of 548,250 a 2.875% interest rate, discount points of $2052.00, 30 day rate lock, Fixed Rate for 30 Years with 360 monthly payments of $2,274.65, a 80% Loan to Value, and a minimum credit score of 740 . **** The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. The rates quoted are for home purchase or Rate & Term Refinance loans. Refinance cash out loans may have a higher rate. The rates may change or not be available at commitment or closing or may be subject to product restrictions. Offer subject to credit approval. Rates advertised are as of June 3rd, 2021.  Rates are subject to change without notice. 178 Trinity Pass, Pound Ridge NY 10576. CT Mortgage Broker CT Department of Finance. MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER NMLS #1375 & 42481. Registered Mortgage Broker NYS Department of Finance, This Website is Not Authorized by the NYDFS.  NY Clients please call 877-794 5363 as no NY applications can be taken from this site. Registered Mortgage Broker Florida Office of Financial Regulation. Loans arranged through third party providers.
Verify our licensing information at www.nmlsconsumeraccess.org

Additional Stimulus May Push Rates a Little Higher

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February 7, 2021

The Senate recently passed a budget resolution which will greenlight the $1.9 Trillion Dollar relief package. This means that more Treasuries will need to be issued to pay for this package. The additional supply of Treasuries in the marketplace can cause rates to move a little higher.

If you have been thinking about refinancing or purchasing a home, now is the time. Rates are still near all-time lows and there is still an amazing opportunity to create wealth through home ownership.

Experts are predicting 6% home price appreciation in 2021. A $300,000 home would gain $18,000 in just one year with 6% appreciation.

Contact me to take advantage of these extremely low rates while they are still available.

______________________________________________________________________________

Rates as Low as

  • 2.091% APR 15 Year Fixed

  • 2.625% APR 30 Year Fixed

Restrictions Apply …read more

LEARN MORE

CALL 1-877-794-LEND (5363)

Loans, Refi, Interest Only Loans

Homes were only on the market for 21 days on average!

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Existing Home Sales were up .7% in December with a record low inventory from November. That’s a 1.9 month supply which is also a record low.  Homes were only on the market for 21 days on average!

The Median home price was $309,800, up 12.9%. Although sales on the low end were down 15%, homes above $1M were up 90% which dragged the median home price higher.

First Time Home Buyers dropped slightly from 32% to 31% even with the stiff competition for homes on the lower end. Cash buyers decreased from 20% to 19% but still remains at a high level and so the only way to beat a cash buyer is to offer more.

Did you know you don’t need 20% down to buy a home?  Allot has changed in mortgage lending these days so don’t go it alone.  Give us a call and we can inform you of many options that you may not be aware of.

Looking for Low Rates? You Found Them! Close in as Little as 23 Days!

15 Year Fixed
2.25% APR 2.46%

30 Year Fixed
2.75% APR 2.87%

Restrictions Apply Learn more

Mortgage rates can move lower and you need to be ready.

Equally important is what many of our happy clients are saying about us!

Contact us at 877-794-5363 (Lend) or Click here for a Quote 

John Sauro
Phone: 1-877-794-5363
Direct Line 914-764 3261

Email: johnsauro@gmail.com
www.northatlanticmortgage.com

Next you should tell a friend! Share this information with someone you may think needs help with their mortgage.

Mortgage Rates Plummet to Lowest Levels in 50 Years!

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Mortgage Rates Plummet to Lowest Levels in 50 Years!

1.875%  2.10% APR – 15 Year Fixed

2.125%  2.27% APR – 30 Year Fixed

Restrictions apply
Contact me to save big on refinancing your home.
Call: John Sauro 914-764-3261
Your trusted 30 year local advisor offering Free Consultation.

Stephanie S. saved more than $2,100 per month on her mortgage and she closed in 23 days. REALLY!

  • Purchase Home Loans

  • Debt Consolidation

  • Reverse Mortgage

  • Home Buyer Loans