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Cold Feet
Mortgage rates hit their lowest level in a year — but buyers still aren’t biting
Splits and Caps Daily: Action for Agents
October 24, 2025
📈 Market Move:
Cautious Consumers
Mortgage rates just hit their lowest level in over a year — 6.19% for a 30-year fixed, down from 6.27% last week. That’s the kind of headline that normally sends buyers sprinting to open houses… but not this time.
Here’s the vibe: the Fed’s next move hinges on a delayed inflation report dropping today. If inflation stays tame, another rate cut’s likely — but economists warn that the big drop is already baked in. Translation: this might be as low as rates get for a while.
Sales data paints a weird picture. Existing home sales jumped 4.1% year-over-year, prices are still creeping up (median: $415,200), but pending sales and mortgage applications are sliding. Buyers love the lower rates — they just don’t trust the economy enough to pull the trigger.
The result? A market in limbo. Sellers are outpacing buyers by half a million nationwide. Refinance apps are surging, but purchase demand is stuck in neutral.
TL;DR:
Rates are down. Buyers are spooked. Sellers are waiting.
If you’re an agent, this is your window — help clients act before the crowd remembers 6% isn’t so bad.
🌟Quote of the Day:
“The only impossible journey is the one you never begin.” — Tony Robbins
📊🤔 Agent Poll:
Mortgage rates just dropped to 6% — but buyers are still ghosting. What’s your move? |
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🎉 Fun Fact of the Day:
Sand Dollars: 🏝️ Private islands in the Caribbean can be cheaper than a house in Beverly Hills — and usually come with fewer HOA rules.
📚 Book Recommendation:
“The Practice of Groundedness” by Brad Stulberg — Most of us think success is about doing more, moving faster, and chasing the next win. Brad Stulberg flips the script. This book is all about slowing down, clearing mental clutter, and actually being present in your work and life.
For agents, it’s a cheat code: imagine showing up calm, confident, and focused while everyone else is panicking over market swings, rates, and pending deals. Stulberg gives practical tools — routines, mindset hacks, and reflection exercises — that turn chaos into clarity.
TL;DR: If you’re tired of feeling “busy but broke of energy,” this book is your reset button. Ground yourself, and everything else starts flowing.
Momentum loves consistency — keep feeding it.
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