Hello Friends,

Welcome to September! I hope you had a wonderful summer and are enjoying the beginning of a new season.

Let me take a few minutes to share what I’m seeing in the housing and economic markets—and, more importantly, what it may mean for you.

Mortgage Rates

Mortgage rates moved a little higher this week.

• 30-year fixed: approximately 6.71%
• 15-year fixed: approximately 6.04%

The 30-year rate was around 6.66% last week. Stronger economic data pushed Treasury yields higher, and we continue to see quite a bit of volatility.

With government borrowing, large investments in AI infrastructure, and elevated oil prices, I expect rates may remain in this general range for the foreseeable future.

The Housing Market

The good news for buyers is that there are more choices and more negotiating opportunities than we've seen in the very tight markets of the past few years.

Home price appreciation has slowed, creating a more balanced market in many areas. Sellers may need to be more strategic with pricing and incentives, while prepared buyers can take advantage of opportunities that weren't available a few years ago.

One strategy worth discussing is a 2-1 temporary rate buydown, which can help make the first two years of a mortgage more affordable.

The Economy

The job market continues to show resilience.

The U.S. added approximately 162,000 jobs in August, unemployment remained at 4.1%, and wages grew about 3.1% year over year.

A strong job market is good news for the economy, but it also means the Federal Reserve may be cautious about lowering rates if inflation remains stubborn.

What Does This Mean for You?

My advice is simple: don't let today's interest rate stop you from making a good long-term decision.

For buyers, more negotiating power and seller concessions may help offset today's rates.

For sellers, creative financing incentives can sometimes attract buyers without simply reducing the price.

For homeowners, your equity may create opportunities for remodeling, debt restructuring, refinancing in the future, or other financial strategies.

Every situation is different. Instead of trying to predict exactly where the market or rates are going, focus on having the right strategy for your goals.

If you'd like to discuss your options, I'm always happy to help with an affordability review, mortgage comparison, or real estate strategy.

❤️ Thank You

Before you go, I want to sincerely thank you for taking the time to read my weekly market report. I know your time is valuable, and I truly appreciate you being here.

Thank you for your trust, support, and referrals. Your confidence in me and your willingness to recommend me to your friends, family, and neighbors means more than I can say.

My goal is to continue providing simple, useful, and data-driven information to help you make informed decisions about your home and your future.

Have a wonderful September, and as always, I'm here if you have any questions. Please see July Reports below. 

Warmly,