Hi everyone,
A buyer waiting for the Fed to cut rates could have missed an important distinction last week: the Fed held steady, while mortgage pricing improved.
That doesn't mean the inflation problem is solved. It means a Fed headline alone isn't enough to tell a buyer what their financing looks like.
The Fed stayed put. Mortgage rates didn't.
The Fed left its short-term policy rate unchanged on October 28 and said inflation remained elevated.
Freddie Mac's October 29 weekly average for a 30-year fixed mortgage fell to 7.24%, from 7.32%. That's a national survey benchmark—not a rate available to every buyer today.
The survey covered October 22–28. Mortgage News Daily reported additional improvement afterward, with Friday's mortgage-rate index reaching its lowest level since September 23.
What helped? Mortgage News Daily linked Friday's bond-market improvement to renewed concerns about AI-company financing and future growth. Those concerns can pull borrowing costs lower even while inflation remains a problem. That's one influence—not a promise that rates keep falling.
And inflation was still giving markets something to worry about. September's PCE price index rose 3.6% from a year earlier, according to Thursday's report. Consumer spending increased in dollar terms, but barely grew after accounting for higher prices.
The way I'd explain it to a buyer:
“The Fed didn't cut, but your mortgage quote can still change. Let's make the decision with actual financing numbers, not a prediction about the next meeting.”
New-home supply is worth a closer look
September's new-home report showed 8.4 months of supply at the current sales pace. That's a national inventory measure, not a prediction that a particular home will take eight months to sell.
For buyers considering new construction, I'd use that as a reason to investigate their actual choices—not assume every builder is ready to negotiate.
Ask which homes are completed, which have a firm delivery date, and what incentives are available on those specific homes. Then compare the full price and financing terms. A national statistic can't tell you which local offer is the better fit.
Realtor Growth Strategy
Give people something specific to ask for
Instead of ending your next post with “Contact me for your real estate needs,” try offering one small, useful resource.
It doesn't need to be a 20-page guide. Start with a checklist you can actually deliver.
Here's one you can adapt today: New-build checklist example
Is this the price of the home I'm seeing, including its lot and upgrades?
When will this specific home be ready?
What conditions apply to the advertised incentive?
Save those questions with your contact details, then build a short post around one of them.
Your closing line could be:
“Touring new builds? Comment CHECKLIST and I'll send you three questions to bring along.”
Have the checklist ready before you offer it. Respond personally to people who ask, using a channel where you can share it. You don't need to set up automation to test the idea.
Then ask a natural follow-up: “Are you comparing communities, or have you found a specific home?”
The experiment is simple: does a useful, specific offer start a better conversation? Look at the questions people ask—not just the comment count.
3 things I'm watching this week
All times Eastern.
Tuesday, November 3, 10 a.m.: Are employers still looking to hire? September's job-openings report gives another view of demand for workers, which helps inform the growth and inflation outlook.
Thursday, November 5, 8:30 a.m.: Are businesses producing more for each hour worked? The preliminary third-quarter productivity and labor-cost report helps show whether companies can grow without the same pressure on costs.
Friday, November 6, 8:30 a.m.: What happened to hiring, unemployment and wages in October? The jobs report is the week's clearest scheduled check on the labor market. I'll be watching the details rather than assuming a strong or weak headline guarantees a particular rate move.
What's one question your buyers keep asking about new construction? Reply and tell me—it could be the starting point for your next post.
Jessica Eiroa
Mortgage Loan Officer | NMLS #1380149
Five Star Mortgage | Company NMLS #1756744
702-285-0633
[email protected]
eiroahomeloans.com
Educational Disclaimer:
This newsletter is for educational and informational purposes only and is not a commitment to lend. Mortgage rates, programs, terms and availability are subject to change and borrower qualification. This information is not intended as tax, legal or financial advice.
Five Star Mortgage
2629 W. Horizon Ridge Pkwy Suite 140
Henderson, NV 89052