Mortgage Rates Dropping?

Did she already meet her quota for the month and needs to get started early on that July bonus?

Ask her for stock tips too.

The current prime rate is 8.25%, the Federal Reserve just mentioned this week that they see a need for 1 or 2 more small increases this year. Makes me wonder what indicators she has that show a significant decrease in the next 8 days?

I’m already using this bank and have a rate locked in with them. This came up in general conversation, not in an attempt to sell me a loan.

The only remotely plausible explanation would be if it were an agency loan (i.e. fannie/freddie/ginnie)

Mortgage spreads in that context CAN have certain non-financial inputs. e.g. If they have a short-term mandate to bolster affordable housing, they can artificially increase loan spreads to fund that - meaning, when it goes away, it's in theory possible to know the date of the phase out and thus when rates would be coming down. However, I would never expect that effect to be more than 50bps - and also, I would expect this to apply more to commercial agency debt and not resi.

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conventional residential mortgages

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agency or non-agency?

As to the question, I haven’t heard/seen any other mention or basis for that statement.

What I do think we will see is more buying down of loans by builders based on the margins they currently have with reduced lumber costs and influx of labor.

Get her to promise to blow you if they don't drop "significantly" on July 1st. You win either way.

Rates are not changing much by July. Some kind of miscommunication or she is just wrong. Can not think of how any loan officer could believe this.

You need to talk to someone smarter and in the know. Find another lender to work with

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What I do think we will see is more buying down of loans by builders based on the margins they currently have with reduced lumber costs and influx of labor.

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This.