We talk about one of the most common questions homeowners ask when rates start moving: “Should I refinance now… or wait, because rates might get better?”

And here’s the twist: waiting can absolutely pay off… but it can also quietly cost you money every single month you delay.

So in this episode, I’m going to break down the cost of waiting to refinance your mortgage using a simple real-world example, and I’ll give you a clean way to think about the decision without guessing or getting lost in the headlines.

A lot of long-range forecasts tie mortgage rates to the 10-year Treasury, because they usually move in the same direction. Most economists are projecting the 10-year Treasury to stay a little over 4% over the next several years, and mortgage rates typically run a spread above that. When you combine those two, the expectation is that 30-year fixed rates may hover around the low-to-mid 6% range over the next five years, rather than dropping dramatically.

Now, that’s not a guarantee, because rates can change quickly if the economy shifts, inflation changes, or there’s a major event like a recession. But the big takeaway is: waiting for a perfect rate can be risky. If the home and payment make sense today, the strategy is often to negotiate the best terms possible now and stay positioned to refinance later if rates improve.

This episode explains how buying a second home can be both a lifestyle upgrade and a long-term wealth strategy. It walks through the idea of using the home part-time while renting it out as a short-term rental when you are not there, which can help offset the monthly cost of ownership and, over time, contribute to building net worth through equity growth and potential appreciation.

In this episode of “Home Finance Unlocked,” host Mike Hogan breaks down the essentials of Private Mortgage Insurance (PMI) and why it’s a key part of the homebuying process for many borrowers. If you’re planning to buy a home with less than 20% down, you’ll likely need some form of mortgage insurance—regardless of your loan type. Mike explains what PMI is, why lenders require it, when it comes into play, and the surprising benefits it can offer to homebuyers. He also clarifies that while this episode focuses on PMI for conventional loans, future episodes will cover mortgage insurance for FHA, VA, and USDA loans. Whether you’re a first-time buyer or just want to better understand your mortgage options, this episode will give you the knowledge you need to make informed decisions on your path to homeownership.

In this episode, we’re breaking down one of the most important—and often misunderstood—factors in qualifying for a mortgage: your Debt-to-Income Ratio (DTI). We’ll explain what DTI is, why lenders care about it, and how it impacts your ability to get approved for a home loan. You’ll learn how to calculate your own DTI, what the ideal ratios are for different loan types, and strategies to improve your DTI before you apply for a mortgage.

Whether you’re just starting to explore your options or you’re getting ready to submit a loan application, The Spokane Home Buyer Podcast is here to help you understand the numbers and set yourself up for success. Tune in for straightforward explanations, actionable tips, and the latest updates to help you achieve your homeownership goals.

Subscribe now and get the knowledge you need to make your home buying journey a success!