Inventory is building, but buyers pulled back last week

Mortgage applications fell again last week, even though rates were a little lower. That's a signal: buyers aren't rushing back just because rates drop a few ticks. They're being careful. Meanwhile, new-home inventory is climbing. April saw sales cool and supply tick up, so there's more breathing room for buyers who do move.

For your buyers: the 30-year fixed rate is 6.375% today. Payments are higher than they were two months ago, but the window is real if they find the right property. For your sellers: inventory is rising, so pricing has to be honest. Sitting too high costs days on market, and days cost deals.

If you've got a buyer who needs to know what they qualify for, or a seller who wants to understand what rates mean for their pool of buyers, send them my way. I'll give them real numbers, same day. NMLS 2010859. Rates shown for informational purposes only, not a commitment to lend, subject to change. Equal Housing Lender.