Mortgage Mirage

Splits and Caps Daily: Action for Agents

May 12, 2025

📈 Market Move:

Hopes on Hold

According to a new BMO (Bank of Montreal Financial Group) report, 1 in 4 potential homebuyers say they’re holding off until mortgage rates drop below 3%. Let’s be real — that’s not just wishful thinking, it’s borderline fantasy land. Even 4% is unlikely, with experts saying 6% is the new normal.

Younger buyers want in, but affordability is the chokehold. Nearly 70% of Americans say rates are impacting their plans, and Gen Z and millennials are the most eager — and the most squeezed. The idea of a “starter home” is also dying fast. 58% now think upgrading later is a dumb strategy.

The big picture? Homeownership is still the dream, but the path feels more like an escape room with no clues. Short-term sales may stay slow, but Gen Z and millennials are planning ahead — over half say they’ll buy in 2026 or beyond. That’s when the tide may finally turn.

🌟Quote of the Day:

"The key to success is to start before you’re ready." — Marie Forleo

📊🤔 Agent Poll Results

On 5/9, we asked: Biggest Buyer Objection Right Now? What’s the main reason buyers are pumping the brakes?

The results are in!

• 💸 Monthly payments are just too dang high: 40%

• 📉 Waiting for rates to drop: 40%

• 🏠 Can’t find a “perfect” home: 20%

• 🙅‍♀️ It’s not them — it’s me (I’m not seeing buyers): 0%

If excuses were offers, we’d all be millionaires. As always, appreciate the insight!

🎉 Fun Fact of the Day: 

Green Lawn, Green Light: Suburban America pushed lawn care in the '50s to promote conformity and “good citizen” vibes. Your HOA is basically a Cold War artifact.

📚 Book Recommendation:

“This Is Marketing: You Can’t Be Seen Until You Learn to See” by Seth Godin—This isn’t a book about ads, funnels, or how to game an algorithm. It’s about understanding people. Real marketing isn’t shouting louder—it’s whispering to the right people at the right time.

Seth’s big idea? “People like us do things like this.” That’s the heartbeat of great marketing. You don’t need everyone. You need your people. Find the smallest viable audience, solve their problem like a beast, and make them feel seen. That’s how movements start. That’s how brands are built. That’s how agents become unforgettable.

If you’re in real estate, this book will flip your perspective. You’re not “selling houses.” You’re helping people become who they want to be—parents, investors, dreamers, downsizers. You’re not a transaction—you’re a transformation.

TL;DR: This book teaches you to stop chasing attention… and start earning trust. That’s real leverage.

You’re not behind — you’re just warming up.

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