Applications are sliding, but your buyers aren't panicking yet

Jobless claims spiked to 209,000 last week from 199,000 the week before. It's not a collapse, but it's a signal your buyers are feeling a little less sure about their paychecks. Oil is still near $81 with shipping risk in the Middle East, so gas isn't helping consumer confidence. Application volume has been soft for weeks. Your buyers are waiting for a reason to move.

Here's the good news: inflation cooled again yesterday, and the government's borrowing cost dropped three ticks. Mortgage rates eased with it. Today's average 30-year fixed rate is 6.625% (6.674% APR). That's about $60 less a month on a $600k loan than two weeks ago. Your sellers can point to that. Your buyers can afford a little more house. When you need a lender who picks up the phone and closes on time, I'm here.

Rates shown are today's average California rates as of 8/11/2026, 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.