February ended with a piece of good news for buyers — 30-year fixed mortgage rates briefly touched their lowest levels in over three years.

That window closed fast.

Since then rates have climbed steadily every week, ending this week at 7-month highs. The move isn’t coming from the Fed or domestic economic data. Geopolitical uncertainty has been pushing oil prices higher, which leads the bond market to price in higher future inflation. When inflation expectations rise, Treasury yields rise with them and mortgage rates follow.

For buyers actively shopping in Buffalo, it’s a reminder that rate movements can shift quickly and that the bond market, not the Fed, is driving the direction.

A duplex in Buffalo listed around $159k caught my attention this week because it highlights a strategy many WNY buyers use to reduce housing costs: owner-occupied multifamily purchasing (house hacking).

Typical rents for similar units can range roughly $1,200–$1,400 per unit, meaning rental income could offset a significant portion of the mortgage payment.

Examples like this show why smaller multifamily properties continue to attract both first-time buyers and investors in the Buffalo market.

When buyers compare mortgage options, the first number they usually focus on is the interest rate.

But the lowest rate doesn’t always produce the best financial outcome.

Mortgage pricing is typically a trade-off between:

• interest rate
• upfront closing costs
• loan structure

Lowering the rate often requires paying discount points, which increases the upfront cost of the loan.

For buyers who may refinance or move within several years, paying extra upfront to secure the lowest possible rate may not always make sense.

Looking at the full picture — rate, costs, and long-term plans often leads to better financing decisions.

One of the most helpful questions an agent can ask a buyer is:

“How long do you realistically expect to stay in the home?”

That single question often determines whether a buyer should prioritize:

• the lowest possible rate
• lower upfront costs
• or flexibility to refinance later

The earlier that conversation happens, the easier it is to structure the right loan.

The chart below tracks the 10-Year Treasury yield, a key indicator I monitor to gauge short-term pressure on mortgage rates. When yields rise, mortgage rates typically follow. When yields ease, mortgage pricing tends to stabilize.

Each week the Buffalo Mortgage Market Brief highlights a real estate professional actively working in the Western New York housing market.

Christina works with buyers, sellers, investors, and commercial clients throughout Western New York, with strong experience in residential homes, multifamily, and commercial properties.

Her focus on local market knowledge and hands-on client guidance has made her a trusted resource for anyone navigating the Western New York real estate market.

📍 Areas served: Wheatfield, Lockport, Tonawanda.

Know a great agent making an impact in WNY? Reply to this email to nominate them for a future spotlight.

Troy Pulli | HUNT Mortgage