Mortgage rates recently dipped, sparking a definite uptick in activity
After more than half a year of bad news and grim outlooks, August has finally brought the mortgage industry some good news. A decline in interest rates has taken the 30-year mark to its lowest point of the year.
And when things typically slow down during the dog days of the late summer, one mortgage broker is seeing things pick up thanks to the sliding rates.
Yury Shraybman (pictured top), mortgage broker, team lead and founder of Innovative Mortgage Brokers, has seen things pick up with fall around the corner.
“I’m definitely seeing more activity compared to the end of past summers, which is unusual,” Shraybman told Mortgage Professional America. “Typically, this time of year slows down as families wrap up summer and those needing to move before the school year are either already closed or closing soon.
“But this year, buyers are still out there looking, making offers, and getting those offers accepted easier than just a few months ago.”
Refinances popping up
It’s not just new home purchases that have increased in August. Shraybman said that homeowners are moving forward with refinances.
“Refis are also starting to pop back up,” he said. “Nothing like the frenzy when rates were at record lows, but I am seeing more homeowners reach out as they are viewing rate drops on the news.”
The challenge for both those wanting to refinance existing loans and those wishing to sell their current home in favor of a new one is the low-rate mortgage picked up during the pandemic. The so-called “golden handcuffs” have kept people on the sidelines.
While the current rate slide still doesn’t approach pandemic-era low rates, Shraybman said for some who have been impatiently waiting to make a move, it’s been enough of a drop to get them to act.
“I’ve had conversations with a handful of agents who are saying the same thing,” he said. “It feels like there’s more traction than we’d typically see at this point in the season. I think some buyers who were waiting on the sidelines for rates to drop finally got tired of waiting and decided it was time to move.”
Building relationships
One other factor at play is the gap between purchase contracts and appraisal values.
During the pandemic, and in the months after, when rates were very low, it became a free-for-all battle for every house that went on the market. Because of this, houses often sold for well over the appraised value.
Shraybman said the script has finally flipped. Now homes are going under contract below appraisal value, meaning buyers aren’t starting homeownership upside-down in home equity.
“Lately, I’ve been seeing a bigger gap between appraised values and purchase prices, with appraisals coming in higher,” Shraybman said. “Just a few months back, those numbers were usually almost identical, and a few years ago, it was more common for appraisals to come in lower than the contract price.”
In a tough mortgage market, one Idaho broker sees her clients as "extended family," not transactions, and believes brokers' value is clearer than ever.https://t.co/FFdXmEi5u1
— Mortgage Professional America Magazine (@MPAMagazineUS) August 6, 2025
However, Shraybman doesn’t believe the drop in rates is the only factor spurring this late-season housing surge. He said the improvements in technology have not only made mortgages more affordable but have also given brokers the time to build meaningful relationships with buyers and refinancers.
“I don’t think it’s just the rates,” he said. “Some of the growth I’m seeing is also tied to things I’ve been working on behind the scenes, such as better tech, being more efficient, and building stronger relationships. In this business, you get out what you put in. And it’s not just about grinding harder, it’s about working smarter and connecting with people in the right way.”
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