Peace Talks Stumbled. Buyers Didn't. Here's What's Happening.
Weekend peace talks between the U.S. and Iran collapsed after President Trump called off the planned trip by Witkoff and Kushner to Pakistan, sending nationally reported mortgage rates higher in immediate reaction. Despite the geopolitical turbulence, purchase mortgage applications jumped 10% last week — a signal that motivated buyers are moving anyway. MBA Chief Economist Mike Fratantoni pointed to a still-resilient job market and higher inventory levels as the reason, calling current conditions a buyer's market in most of the country. The Federal Reserve meets Tuesday and Wednesday, with no rate cut expected, but Powell's Wednesday press conference will be the most closely watched Fed communication of his tenure — any forward guidance on cuts will move bond markets instantly. Agents and buyers who stay active this week are positioned ahead of the wave: when the geopolitical shock resolves, the pent-up demand sitting on the sidelines comes back all at once. Friends, have an amazing Monday! Hope you enjoyed your ready-to-use free content last time. It's still there if you weren't able to snag it over the weekend. We love serving our community!