All eyes are on the Federal Reserve.
Governor Chris Waller said he supports a September rate cut, with the pace dependent on incoming data.
Markets are already pricing in a near-certain move. Futures imply a ninety-two percent chance of a twenty-five basis-point cut at the September seventeenth meeting.
The current policy range sits at four and a quarter to four and a half percent. Waller favors a gradual path down.
For real estate, the implications are direct. Rate relief lowers debt service, extends buyer underwriting, and accelerates a lending thaw that was already visible in the second quarter.
According to the Mortgage Bankers Association, originations jumped sixty-six percent year over year and forty-eight percent quarter over quarter.
In short, easier money could reopen the financing pipeline.