This Week's Trending Topic
Mortgage rates just had their first real breather in six weeks. The 30-year fixed sits around 6.67%–6.71%, down slightly from last week's 6.69%. Not a dramatic drop, but a meaningful shift in direction.
Here's why: July's jobs report came in weak (a surprise job loss instead of the expected gain), and inflation cooled right in line with forecasts. That combination takes pressure off the Fed heading into its September meeting. The Fed doesn't set mortgage rates directly, but bond markets move on expectations and right now, expectations are shifting toward a pause, maybe even a cut later this year.
Zillow's economists are still forecasting rates only easing to around 6.5% by year-end. Translation: this isn't a crash back to 3-4% territory. It's a slow grind, and anyone waiting for rates to "fix" affordability on their own is going to be waiting a while.
Abdel's Angle
This is a market that rewards preparation, not prediction. I don't coach my partners or clients to guess where rates go next week, I coach them to build systems that work no matter what rates do.
For referral partners: this is a "stay in front of your database" week, not a "wait and see" week. Every small rate dip creates a fresh reason to reach back out to buyers who paused in June or July. Silence is expensive right now, someone else will make that call if you don't.
For business owners: this is exactly the kind of moment that separates people who plan from people who react. Rate volatility, inflation data, Fed meetings, none of it should be able to knock your business off course if your Q3/Q4 plan already accounts for it. Systems and execution beat guessing every time. If your business plan changes every time CPI drops, you don't have a plan, you have a mood.
For buyers: don't fixate on the headline rate. Fixate on your monthly payment, your timeline, and whether the home actually fits your life. Rates will keep moving in both directions between now and closing. Your decision shouldn't.
Action Step of the Week
Referral Partners: Pull your last 90 days of "not ready yet" leads. Send one simple text: "Rates eased up a bit this week, want me to run new numbers for you?" That's it. Low pressure, high return.
Homebuyers: Get pre-approved now, even if you're not buying for 60-90 days. Rate movement matters less when you know your real number and can act fast when the right home hits.
Business Owners: Block 30 minutes this week to review your Q4 plan against current rate/inflation conditions. If nothing changes, good, that confirms your plan is solid. If something needs adjusting, better to catch it now than in November.
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Author: Abdel Khawatmi with PRMG Got Mortgages
Originally published in Abdel Khawatmi’s Monday Market Pulse newsletter on LinkedIn.