I just wanted to take a moment to say “THANK YOU!” to those of you who take the time to reply and share your comments, opinions, and, of course, praise.

It takes a good amount of time and energy for the team and me to put all this together. We absolutely love doing it! However…there are times that it can feel like we’re talking to door, so whenever I get a reply I geek out in pure joy.

Here are a few recent replies:

“Amazing job on The Real Report! I read it every week!” – Michael P.

“Thank you.  The scale is understandable.  First yet that I liked.” – Garry M

“Killing it per usual…” – Brent E.

“I appreciate the Ted Lasso reference… haha.” – Neva E (full disclosure, she’s on my team…but had to throw it on the list because Ted Lasso IS legit)

Weekly Snapshot

The seasonal slowing trend is continuing…slowly.

 August 13 - 19Prev 4 Week Avg.% ChangeAugust 6 -12
New Listings759778-2.47%688
New Pending Sales828866-4.33%880
New Sales7106883.16%618
Active Inventory3,4953,3653.86%3,192
30 Year Fixed Mortgage2.86%2.81%1.96%2.87%

Mortgage rates calmed down last week compared to the week prior. The bond market as a whole is basically in a holding pattern awaiting the Fed meeting that’s taking place (virtually) this coming week. Fed Chair Jerome Powell is set to speak on Friday.

At this point, no one is really expecting them to make any shifts in their schedule to increase the Fed Funds rate (2023), but we are expecting more clarity as it relates to the Fed potentially slowing down their bond-buying program…the same program that is seen as the major catalyst for mortgage rates dropping to historic lows last year.

Hence the extreme interest on our end.

We hope to have a more in-depth update for you on that topic next week, so stick with us!

In The News

The Week Ahead

Just a long week of anticipation waiting on Fed Chair Jerome Powell to speak on Friday.

Until then, I’ll be waiting with bated breath on your replies, no pressure.