Today’s update highlights a notable rise in mortgage applications, slight rate improvements, and what to expect from the Fed—offering clarity and direction for professionals guiding clients.
Homebuyers Resurface as Mortgage Demand Gains Steam
Read the full story → Scotsman Guide
Mortgage applications jumped 9.4% last week—the strongest activity since early 2023—as a dip in rates and growing inventory spurred both purchase and refi interest. This marks the third consecutive week of rising demand.
Loan Officer Insight:
This renewed demand signals prime opportunity—reach out to paused clients, ramp up pre-approvals, and capture this momentum before rates shift.
Realtor Insight:
Buyer engagement is real—add new listings, host timely open houses, and leverage this demand surge in your marketing.
Mortgage Rates Hold Near Seven-Week Low
Read the full story → Mortgage News Daily
As of July 9, the average 30‑year fixed rate is at 6.77%, down 4 bps—marking the lowest level in nearly three months. The 15‑year rate also sits at 5.98%, down 4 bps.
Loan Officer Insight:
These rates support locking opportunities. Position your outreach around affordability windows and savings potential.
Realtor Insight:
Highlight cost advantages in your buyer communications—lower mortgage rates improve purchasing power and buyer confidence.
What to Expect from the Fed’s July Interest Rate Decision
Read the full story → Forbes
Though the Fed is not expected to cut rates in July, officials indicate a next cut may follow if inflation continues to moderate. That keeps the potential for rate relief alive later this summer.
Loan Officer Insight:
Prepare clients for a wait-and-see window. Promote flexible rate-lock options and set expectations around potential cuts in the near term.
Realtor Insight:
Use this positioning to reassure clients—rate relief is still on the horizon. Encourage action before any rate uptick occurs.
Loan Officer’s Perspective
- Leverage the 9.4% surge in mortgage demand by activating paused or pre-approved clients.
- Lock strategies aligned with current low rates (6.77%) can offer tangible savings.
- Emphasize flexibility—rate relief may come later this summer, but borrowers shouldn’t wait too long.
For additional resources and strategies to support your referral partners and clients effectively, visit DailySuccessPlan.com.
Realtor’s Perspective
- Capitalize on real demand—update listings, schedule walkthroughs, and connect with buyers now.
- Use rate trends to educate and reassure—buying now means locking in better terms.
- Frame Fed commentary as encouragement, not delay—prepare buyers to move while rates remain moderate.
📩 Ready-to-Send Emails
Loan Officer Email (for Realtor Partners)
Subject: Mortgage Demand, Rate Stability & Fed Outlook—Worth Sharing
Hi [First Name],
Here’s what’s moving today:
• Mortgage demand jumped 9.4%, strongest since early 2023.
• 30‑year rate dropped to 6.77%, lowest in three months.
• Fed is holding in July, but rate cuts may follow if inflation continues easing.
Let me know if you’d like co-branded updates or client materials reflecting this trend.
Best,
[Your Name]
[Your Contact Info]
Realtor Email (for Clients / Sphere)
Subject: Buyers Are Back—Rates & Fed News You Should Know
Hi [First Name],
Here’s today’s housing scoop:
• Purchase and refinance apps soared 9.4% last week—buyer surge under way.
• Rates fell to 6.77%, offering better financing terms.
• Fed stays steady this month, with possible cuts ahead.
Want to explore your options? I’m here when you’re ready.
Warmly,
[Your Name]
[Your Contact Info]