Oil dropped, labor stayed firm, and your buyers just got squeezed a little tighter

Oil prices fell about 1% this week on progress in U.S. and Iran talks, which should help cool one piece of the inflation story. But job openings came in at 7.59 million and wages are still climbing at 4.4% annually, so the bond market pushed rates up anyway. Today's average rate is 6.375% (6.424% APR). Your buyers just lost a sliver of buying power, maybe $10,000 to $15,000 on a typical California purchase.

Thursday's jobs report is the next trigger. If hiring comes in softer than the 115,000 forecast, rates could reverse and drop fast. If it runs hotter, expect another small move up. For your sellers, this is still a narrow inventory market. Listings that show well and price right are moving. For your buyers, if they were approved last week and rates climb again, their max offer shrinks. Get them locked if they're close to contract.

I'm here if you need a same-day pre-approval or a payment breakdown to close a listing argument. Call me and we'll handle it.

Rates shown are today's average California rates as of 6/24/2026, for general information only and not an offer or commitment to lend. Your actual rate and APR depend on your credit, loan amount, down payment, and property, and rates and terms can change at any time. Brett Hickman, NMLS #2010859. Home First Financial, NMLS #2465048. Equal Housing Lender.