Every week, I look at the shifts shaping the market — what’s changing, where momentum is building, and what sales professionals need to keep in focus. Last week: mortgage rates dipped below 6.5% for the first time in nearly a year, which accelerated both homebuyer and refinance activity; a historic revision to employment data has heightened anticipation around this week’s Federal Open Market Committee (FOMC) meeting; and homeowner equity remains near record highs. Together, these factors are creating a compelling environment of urgency and opportunity across the real estate landscape.

Here’s what stood out in the second week of September.

September 15, 2025

MORTGAGE DEMAND SURGES AS RATES DROP TO 6.35%. The downward trend in the 10-year Treasury yield signals increasing investor confidence that the Federal Reserve will lower the federal funds rate during this week’s FOMC meeting, which kicked off a drop in mortgage rates this week. According to Freddie Mac, the average interest rate for a 30-year fixed-rate mortgage declined to 6.35%, down from 6.5% the previous week, marking the lowest level since October. The shift in rates spurred increased activity across the market, with mortgage applications rising both week-over-week and year-over-year. Refinance applications accounted for nearly half of total submissions, as homeowners who previously locked in higher rates moved quickly to reduce their monthly payments. Simultaneously, purchase applications climbed to their highest level since July, signaling renewed momentum among prospective buyers. Full Story from NPR →

• Why this matters: If you’re looking for a sign to be proactive, this rate drop is it. With mortgage rates trending downward, now is an opportune moment to take intentional steps. Reconnect with pre-approved buyers to reassess affordability and explore updated rate lock options. Engage prospective sellers with insights into the expanding buyer pool and increased market activity. Equally important, reach out to past clients who purchased with the intention to refinance. This rate environment may present the ideal window for them to act, and your timely guidance can reinforce long-term trust and loyalty. In today’s market, cultivating lifetime relationships delivers far greater value than transactional interactions. This is a prime opportunity to demonstrate your expertise and commitment.

HOME EQUITY REMAINS HIGH EVEN AS PRICE APPRECIATION COOLS. The average U.S. borrower holds roughly $307,000 in home equity, with total mortgage-holder equity near $17.5 trillion, per Cotality’s Q2 Home Equity Report released Friday. That figure is the third-highest quarterly total in the history of Cotality’s dataset. While home-price appreciation is at its slowest pace nationally since 2008, even markets that have seen price declines have historically high home equity levels right now. Full Story from HousingWire →

• Why this matters: With homeowner equity remaining near record highs, many individuals are well-positioned to explore a range of options, from upgrading to a larger home, downsizing, or investing in renovations. This financial flexibility opens the door to meaningful conversations and strategic planning. Consider reconnecting with past clients through personalized “equity checkups.” These touchpoints not only showcase your market expertise but also help strengthen long-term relationships by demonstrating ongoing value and support.

JOBS DATA REVISION PUTS PRESSURE ON FED FOR RATE CUT. The Labor Department released a substantial annual revision to payroll data early in the week, revealing that the economy added 911,000 fewer jobs in the 12 months ending March 2025 than previously reported. It marked the largest downward adjustment ever issued by the Bureau of Labor Statistics, surpassing the correction made during the 2009 global financial crisis. This significant revision has increased pressure on the Federal Reserve to consider lowering the benchmark interest rate during this week’s Federal Open Market Committee (FOMC) meeting, as policymakers reassess the strength and trajectory of the labor market. Full Story from Realtor.com →

• Why this matters: Markets are interpreting a cooler labor environment alongside easing inflation, trends your clients are likely seeing in headlines and asking, “what does this mean for me?” Your role is to simplify the message: a softer labor market often leads to lowering borrowing costs. However, local inventory levels and pricing trends continue to drive real-time decisions. Your competitive advantage lies in translating national economic shifts to actionable, localized guidance. This is a prime opportunity to reinforce your value and deepen client trust.

BOTTOM LINE: Market momentum is accelerating, driven by rate relief, and you’re equipped to help clients navigate it with clarity and confidence. Lead with straightforward analysis, present clear options, and maintain a steady, reassuring presence. Be proactive: leverage this opportunity to deepen trust and build lasting relationships, regardless of where your clients are in their journey.

Disclaimer: this is a compilation of industry news from trade media and industry groups; it does not share any forward-looking predictions or projections.