{"id":5245,"date":"2025-07-23T11:48:58","date_gmt":"2025-07-23T15:48:58","guid":{"rendered":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/?p=5245"},"modified":"2025-08-13T09:07:11","modified_gmt":"2025-08-13T13:07:11","slug":"2025-mid-year-mortgage-update","status":"publish","type":"post","link":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/2025\/07\/2025-mid-year-mortgage-update\/","title":{"rendered":"2025 Mid-Year Mortgage Update"},"content":{"rendered":"\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2025\/07\/Union-Bank.jpg\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"426\" src=\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2025\/07\/Union-Bank-1024x426.jpg\" alt=\"\" class=\"wp-image-5246\" srcset=\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2025\/07\/Union-Bank-1024x426.jpg 1024w, https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2025\/07\/Union-Bank-300x125.jpg 300w, https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2025\/07\/Union-Bank-768x320.jpg 768w, https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2025\/07\/Union-Bank.jpg 1432w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><br>NMLS# 402933<br><a href=\"https:\/\/www.ublocal.com\/\" data-type=\"link\" data-id=\"https:\/\/www.ublocal.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">UBLocal.com<\/a><br><\/p>\n<\/div>\n<\/div>\n\n\n<div id=\"elevenlabs-audionative-widget\" data-height=\"90\" data-width=\"100%\" data-frameborder=\"no\" data-scrolling=\"no\" data-publicuserid=\"7f5a0832d04d06ebe4ca931cfa9cb2e0a1d8e0132a02f8e0a4f528315c7ceef9\" data-playerurl=\"https:\/\/elevenlabs.io\/player\/index.html\" data-projectid=\"KcL9BHaVQ9IfYbxkREMC\">Loading the <a href=\"https:\/\/elevenlabs.io\/text-to-speech\" target=\"_blank\" rel=\"noopener\">Elevenlabs Text to Speech<\/a> AudioNative Player&#8230;<\/div>\n<p><script src=\"https:\/\/elevenlabs.io\/player\/audioNativeHelper.js\" type=\"text\/javascript\"><\/script><\/p>\n\n\n<p><strong>As we pass the midpoint of 2025<\/strong>, the <a href=\"https:\/\/www.hickokandboardman.com\/vermont-property-search-results\/status_active_active-with-contract\/advanced.html\" data-type=\"link\" data-id=\"https:\/\/www.hickokandboardman.com\/vermont-property-search-results\/status_active_active-with-contract\/advanced.html\">Vermont housing market<\/a> continues to navigate a complex and rapidly evolving landscape. While affordability and housing availability remain front and center, new challenges\u2014and a few encouraging opportunities\u2014are shaping this year\u2019s outlook.<\/p>\n\n\n\n<p>Despite rising interest rates, <strong>Vermont homeowners continue to lead the nation in home equity strength<\/strong>. Nationally, <strong>equity withdrawals surged 22% year over year<\/strong>, reaching <strong>nearly $25 billion in Q1<\/strong>\u2014the largest such figure in 17 years. These withdrawals highlight the significant wealth Vermonters have tied up in their homes.<\/p>\n\n\n\n<p><strong>Mortgage interest rates are expected to decline modestly<\/strong> in the second half of 2025, likely averaging in the <strong>mid-to-upper 6% range<\/strong> for a 30-year fixed mortgage. This depends on potential Federal Reserve rate cuts, with <strong>September as a likely starting point<\/strong>. However, rates remain sensitive to inflation and economic data.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Housing Affordability<\/h3>\n\n\n\n<p>Vermont is addressing affordability with a range of mortgage programs. Local lenders like <strong><a href=\"https:\/\/www.ublocal.com\/\" data-type=\"link\" data-id=\"https:\/\/www.ublocal.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Union Bank <\/a>consistently rank as top VHFA partners<\/strong>, and innovative tools like the <strong>LendTogether shared equity program<\/strong> aim to further improve access.<\/p>\n\n\n\n<p>According to the U.S. Census Bureau, <strong>820 permits were issued as of May 2025<\/strong>, down from <strong>1,036 in May 2024<\/strong>. Despite fewer permits, <strong>Union Bank continues to report healthy construction lending<\/strong>.<\/p>\n\n\n\n<p>As of mid-June, <strong>Freddie Mac reports the average 30-year mortgage rate at 6.81%<\/strong>, slightly lower than this time last year. Though affordability remains strained, <strong>809 new housing units were authorized through April<\/strong>, signaling <strong>modest growth in construction activity<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Beware of the Rise of Title Pirates<\/h3>\n\n\n\n<p>Scammers are targeting unoccupied land and mortgage-free properties, <strong>fraudulently listing them for sale<\/strong>. Warning signs include:<\/p>\n\n\n\n<ul>\n<li>Communication only by email<\/li>\n\n\n\n<li>Refusal to meet in person<\/li>\n\n\n\n<li><strong>Cash-only demands<\/strong><\/li>\n\n\n\n<li>No in-person notary<\/li>\n<\/ul>\n\n\n\n<p><strong>Awareness is critical<\/strong> to stopping these fraudulent practices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Looking Ahead<\/h3>\n\n\n\n<p>While obstacles remain, <strong>demand for mortgage and construction financing remains strong<\/strong>. Union Bank continues to offer <strong>local insight, trusted guidance, and tailored solutions<\/strong> to help communities thrive\u2014regardless of market conditions.<\/p>\n\n\n\n<p>Footnotes: <\/p>\n\n\n\n<ol>\n<li><a href=\"http:\/\/UBLocal.com\" data-type=\"link\" data-id=\"UBLocal.com\" target=\"_blank\" rel=\"noreferrer noopener\">Unio<\/a><a href=\"http:\/\/UBLocal.com\" data-type=\"link\" data-id=\"UBLocal.com\">n Bank<\/a> <\/li>\n\n\n\n<li>MPA <a href=\"https:\/\/www.mpamag.com\/us\/mortgage-industry\/market-updates\/record-home-equity-falling-rates-drive-borrowers-back-to-helocs\/537667\" data-type=\"link\" data-id=\"https:\/\/www.mpamag.com\/us\/mortgage-industry\/market-updates\/record-home-equity-falling-rates-drive-borrowers-back-to-helocs\/537667\">Record home equity, falling <\/a><a href=\"https:\/\/www.mpamag.com\/us\/mortgage-industry\/market-updates\/record-home-equity-falling-rates-drive-borrowers-back-to-helocs\/537667\" data-type=\"link\" data-id=\"https:\/\/www.mpamag.com\/us\/mortgage-industry\/market-updates\/record-home-equity-falling-rates-drive-borrowers-back-to-helocs\/537667\" target=\"_blank\" rel=\"noreferrer noopener\">rates drive borrowers back to HELOC<\/a><a href=\"https:\/\/www.mpamag.com\/us\/mortgage-industry\/market-updates\/record-home-equity-falling-rates-drive-borrowers-back-to-helocs\/537667\" data-type=\"link\" data-id=\"https:\/\/www.mpamag.com\/us\/mortgage-industry\/market-updates\/record-home-equity-falling-rates-drive-borrowers-back-to-helocs\/537667\">s<\/a> <\/li>\n\n\n\n<li>Freddie Mac <a href=\"https:\/\/www.freddiemac.com\/?gad_source=1&amp;gad_campaignid=22197993732&amp;gbraid=0AAAAA-zPkSpu8-v6nbv9e0-AEW-cE2PsC&amp;gclid=CjwKCAjw7_DEBhAeEiwAWKiCC8xwjLkm2W-XLdD8znUcQeo8u0lySFCt5Vlt_GqPaxOFZORj1LVGexoCM4UQAvD_BwE\" data-type=\"link\" data-id=\"https:\/\/www.freddiemac.com\/?gad_source=1&amp;gad_campaignid=22197993732&amp;gbraid=0AAAAA-zPkSpu8-v6nbv9e0-AEW-cE2PsC&amp;gclid=CjwKCAjw7_DEBhAeEiwAWKiCC8xwjLkm2W-XLdD8znUcQeo8u0lySFCt5Vlt_GqPaxOFZORj1LVGexoCM4UQAvD_BwE\">Mortgag<\/a><a href=\"https:\/\/www.freddiemac.com\/?gad_source=1&amp;gad_campaignid=22197993732&amp;gbraid=0AAAAA-zPkSpu8-v6nbv9e0-AEW-cE2PsC&amp;gclid=CjwKCAjw7_DEBhAeEiwAWKiCC8xwjLkm2W-XLdD8znUcQeo8u0lySFCt5Vlt_GqPaxOFZORj1LVGexoCM4UQAvD_BwE\" data-type=\"link\" data-id=\"https:\/\/www.freddiemac.com\/?gad_source=1&amp;gad_campaignid=22197993732&amp;gbraid=0AAAAA-zPkSpu8-v6nbv9e0-AEW-cE2PsC&amp;gclid=CjwKCAjw7_DEBhAeEiwAWKiCC8xwjLkm2W-XLdD8znUcQeo8u0lySFCt5Vlt_GqPaxOFZORj1LVGexoCM4UQAvD_BwE\" target=\"_blank\" rel=\"noreferrer noopener\">e Updates<\/a><\/li>\n\n\n\n<li>U.S. Census Bureau <a href=\"https:\/\/www.census.gov\/construction\/nrc\/pdf\/newresconst_202505.pdf\" data-type=\"link\" data-id=\"https:\/\/www.census.gov\/construction\/nrc\/pdf\/newresconst_202505.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">New Construction Update<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>NMLS# 402933UBLocal.com Loading the Elevenlabs Text to Speech AudioNative Player&#8230; As we pass the midpoint of 2025, the Vermont housing market continues to navigate a complex and rapidly evolving landscape. While affordability and housing availability remain front and center, new challenges\u2014and a few encouraging opportunities\u2014are shaping this year\u2019s outlook. Despite rising interest rates, Vermont homeowners &#8230; <a class=\"read-more\" href=\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/2025\/07\/2025-mid-year-mortgage-update\/\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"_links":{"self":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/5245"}],"collection":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/comments?post=5245"}],"version-history":[{"count":5,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/5245\/revisions"}],"predecessor-version":[{"id":5366,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/5245\/revisions\/5366"}],"wp:attachment":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/media?parent=5245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/categories?post=5245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/tags?post=5245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}