- Splits and Caps
- Posts
- Buyers Braking
Buyers Braking
Mortgage rates ease up, but the market’s still in low gear.
Splits and Caps Daily: Action for Agents
February 7, 2025
📈 Market Move:
Listings Lift, Loans Linger
Mortgage rates are finally chilling out, averaging 6.89% this week—down from last week and marking three straight weeks of slow declines. But don’t expect a stampede of buyers just yet. The market is still stuck in neutral, with purchase applications down 4% while refinance applications spiked 12% (translation: people are taking what they can get).
Meanwhile, inventory is creeping up. New listings jumped nearly 8% year-over-year, and total supply is hitting levels we haven’t seen since 2019. More sellers are getting realistic and slashing prices, but demand remains weak, especially with rates still hovering near 7%.
The real winners? Cash buyers. With mortgage rates still high, those rolling in with briefcases full of cash are making moves. If rates don’t drop significantly, expect that trend to continue into the spring season.
Bottom line: The market is warming up, but it's not on fire yet. Buyers are picky, sellers are adjusting, and rates are holding steady—for now.
🌟Quote of the Day:
"Fear kills more dreams than failure ever will." — Suzy Kassem
⚡ 📊🤔 Agent Poll
If you had to choose, what’s the lesser evil? |
🎉 Fun Fact of the Day:
The Great Escape Clause: The city of Venice is sinking about 1 millimeter per year. Locals aren’t just selling homes—they’re selling time. Your investment literally comes with an expiration date.
📚 Resource Recommendation:
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✅ Lease agreements that are actually lawyer-approved (no sketchy Google templates)
Whether you’re helping investor clients streamline their rentals or just want to look like a genius when they ask for advice, TurboTenant makes you the MVP.
If you want to stand out, outwork, outlearn, and outlast.
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