Subscribe to the pod! Now available on Apple Podcasts and Spotify.
Interest Rates • The average 30‑year fixed mortgage remains near its 10‑month low at approximately 6.58 %, unchanged week‑over‑week YCharts+12AP News+12Bankrate+12. Bankrate reports a similar figure of 6.62 %, marginally up from last week Bankrate+1. The 15‑year fixed rate sits around 5.84 %, while the 5/1 ARM and jumbo are in the 5.79 %–6.58 % range Reuters+13Bankrate+13Bankrate+13. • CRE lending, such as CMBS and bridge loans, remains tightly priced, though real‑time rates are not clearly reported today.
Drivers of Rate Change • 10‑year Treasury yields are hovering near 4.33 %, slightly above the long‑term average of 4.25 % and up from roughly 4.29 % yesterday Bankrate+7Kiplinger+7AP News+7YCharts+2Barron's+2. • Bond markets are unusually calm; the MOVE index hit its lowest level in 3½ years, in part due to anticipation of the Jackson Hole speech Apple Podcasts+15Barron's+15Kiplinger+15. • No new Fed commentary today, but speculation is mounting ahead of Powell’s Jackson Hole remarks. Inflation and PPI remain under watch Kiplinger+1. • Market sentiment currently appears neutral to modestly risk‑on, pending the Fed signal.
Residential Real Estate • U.S. existing home sales unexpectedly rose 2.0 % in July, reaching an annualized rate of 4.01 million Reuters. • Median home price is around $422,400, slightly down from June but up year‑over‑year—the 25th straight increase Reuters. • Inventory increased to 1.55 million homes (~4.6 months of supply), hinting at gradual easing The Mortgage Reports+12Reuters+12New York Post+12.
Commercial Real Estate (CRE) The most notable transaction of the day was in multifamily: A 166-unit waterfront apartment complex in Redmond, WA—the Archstone Redmond Lakeview—sold for $63.3 million, the largest apartment trade in the city this year. The deal signals investors are regaining confidence in multifamily assets despite higher financing costs.
Forward-Looking & Market Sentiment Markets are bracing for Powell’s speech tomorrow at Jackson Hole. Equity options pricing implies an S&P 500 swing of ±0.8% by week’s end. Investors are split: dovish commentary could lock in a buyer’s window, while hawkish signals could spark a bond sell-off, lift Treasury yields, and weigh on risk assets.
Hot Take Mortgage rates may be calm today, but one hawkish phrase from Powell could erase that stability overnight. Traders are already hedging: if yields climb, expect sellers to sweeten deals to keep buyers in play.
Biggest Deal of the DayA waterfront apartment complex in Redmond, east of Seattle—the 166‑unit Archstone Redmond Lakeview—sold for $63.3 million. This marks the priciest apartment transaction in Redmond since January, signaling revived investor confidence in regional multifamily assets The Australian+8CoStar+8Long Island Business News+8.
Hot Sales Idea of the Day Position listings with a closing-cost or interest rate buydown incentive. Buyers facing 6.5% mortgages will respond if you frame it as “locking in affordability” ahead of possible Fed-driven yield spikes.
Subscribe to the pod! Now available on Apple Podcasts and Spotify.
Happy selling!
Teresa Grobecker, MBA, CRPC. Investment Banker, Angel to Series C, Capital Formation, CRE and Gov Contracting, Defense, Policy and Real Assets Investor, Futurist and Fixer at the Intersection of Finance
CA DRE 01908507 NMLS 1286612, CEO and Broker of Record, Grobecker Holland International, Inc.,CA DRE 01976696 NMLS 1295266
