Last month’s ugly labor data shook markets. Will this week repeat?

Good morning friend,

Happy Labor Day! I hope you’re enjoying the long weekend and the start of September. Even though the markets are closed, I’m at the office and ready to help get you a new escrow. If you’re out showing homes and a buyer wants to write an offer or needs pre-approval, give me a call and I’ll take care of them like always.

Even though the markets and banks are closed today, I still wanted to send out a quick update. Rates have been mostly flat since Powell’s Jackson Hole comments the other week, with bonds treading water last week again. This week could change that: Thursday brings us the ADP jobs report, and Friday we have the nonfarm payrolls report being released.

Last month, both came in weak with large revisions downward. If that trend continues, the market may start pricing in a 50 bps Fed cut in September. While I don’t expect a cut that large, these reports will give us a better signal on what’s coming.

Mortgage Rates ➡️

I will send out an updated rate sheet tomorrow, but last week’s rates are shown below.

The national average for 30 year fixed conventional is sitting at 6.50% according to mortgage news now. (Keep in mind, this is assuming 25% down, perfect credit, single family home with on average a one point buydown).

Other Helpful Articles:

• Las Vegas Housing Inventory Soars, but Most Homes Are Unaffordable, report says.
• 5 Best IDX Websites for Realtors in 2025
• 4 Types of Instagram Polls That Get Clients Talking

Two Ways I can Help

• Let's collaborate — schedule a Zoom meeting with me here and let's talk shop. I'm always down to mastermind and ideate.
• Tough deal? My team and I routinely save deals for our agent partners, so let me know if you have a deal going sideways before throwing in the towel.

“Opportunities multiply as they are seized.”

— Sun Tzu