Market Pulse: Rates Drop & Mortgage Updates - 8/4/25 Market Update

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Interest rates have improved following a favorable jobs report, while Fannie Mae and Freddie Mac are expanding appraisal waivers to loans with lower down payments and high credit scores.

• Interest rates dropped about a quarter point (60 basis points) after Friday's favorable jobs report
• Fannie Mae and Freddie Mac redefining appraisal waiver algorithms 
• Plans to extend appraisal waivers to loans with lower down payments but high credit scores
• These changes will roll out in late 2025 into 2026

Agents - Take Action Today!
• National Night Out presents visibility opportunities for agents
• Community engagement ideas include school supply drives and local event sponsorships
• Plan fourth quarter activities now before vendors are booked

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Episode Transcript

Speaker 1 (00:02):
It's Monday, August 4th and I want to welcome you to
the Monday Market Update.
Nikki is actually not joiningus live today, but I do have an
update for her, so I'll go aheadand play that now.

Speaker 2 (00:18):
Good morning and happy Monday.
We are looking really, really,really good on interest rates
this morning.
So on Friday when we got thejobs report, it was definitely
favorable, which helped mortgageinterest rates reduce.
That helped us improve themarket by around a quarter,
around 60 basis points, whichmeans that interest rates on
Friday and now through today areshowing in the six and a half,

(00:40):
six and three-eighths range,which is a great improvement
from what we've been seeing sopositive things going on there.
I also want to talk about alittle bit of changes that are
happening with Fannie andFreddie with regard to appraisal
waivers.
Now we've often talked abouthow the Fannie and Freddie
gather algorithm data and theytalk about being able to give
appraisal waivers for loanswhere people are putting

(01:03):
significant money down and alsohave higher credit scores.
So they are redefining andbecoming more specific on the
algorithm data and the data thatthey have gathered to issue
those appraisal waivers.
They are talking about havingappraisal waivers for loans that
have less down payments andstill higher credit scores and

(01:23):
kind of algorithm andaggregating that data to make
sure that they can issue moreappraisal waivers than they ever
have before.
So this is a good change movinginto the later half of 2025 and
into 2026.
So it'll be great to see whathappens there.
Other than that, things aremoving along just as they should
in the mortgage business.
Applications are up during thesummer months and everything is

(01:45):
looking wonderful.
So if you do have any questions, or your clients have any
questions, I'm always availableto help.

Speaker 1 (01:52):
Wonderful.
So there you have it.
Quick Monday market updatetoday, but good news, trending
in the right direction,absolutely.
And my message for you todayI'll keep it short as well.
It's National Night OutTomorrow, so I encourage you to
be visible, be neighborly.

(02:14):
I know I've gotten two, if notthree, flyers in my mailbox of
different events going on in myneighborhood and neighborhoods
just down the road.
So go to get out of your house,go see some neighbors, bring a
dish to share, whatever it lookslike, but be out, be visible,

(02:34):
have conversations, and youdon't have to even bring up real
estate if that seems a littlebit out of context for the
situation.
But wear a hat, wear your nametag, wear some logo gear.
You know it's always good tonot be a secret agent and let
people know what you do, becauseyou, if someone's going to buy,

(02:56):
sell or invest in real estate,they are going to use an agent,
and why shouldn't it be you?
So if you don't ask or if youdon't put it out there, the
answer is already no.
So definitely be visible.
I mean, think about all theother people in different
industries that walk around likebillboards, with their logos on
their cars or on their person,whether it be a shirt or a hat

(03:21):
or whatnot.
So we just have to get out ofour own ways and our own heads
and get out there and helppeople.
The other thing would be back toschool While you're at National
Night Out or, if you can't makeit, you could do a school drive
.
So you know, collect schoolsupplies.
I know I've seen some agentsvery successfully door knock

(03:42):
with a flyer and a grocery bagfrom their local grocery store
and if the people aren't homethey'll leave the bag with a
note saying I'll come back nextWednesday at one between one and
three and pick this up.
And if you'd like to donate toa local food drive, you know,

(04:06):
have this on your doorstep andI'll pick it up.
Well, you could do the samething with school supplies, or
bring that for tomorrow night,make up a quick flyer and just
say I want to do a school supplydrive and this is when I can
stop by your house and pick itup.
Then you're out, you're visible, you're donating to your local
community and helping out.
The other thing would be youknow, in Minnesota we have the

(04:27):
state fair coming up, which ishuge.
If you want to reach out toyour sphere of influence.
You could do a drawing forstate fair tickets.
Or if you post online and say,give me your opinion on this,
I'll draw two winning tickets tothe state fair.
So people will be more likelyto engage with you and stop

(04:49):
instead of just scrolling on by.
And you know we're going intothe fall.
So then you have Halloween, youhave Labor Day.
There's so many opportunities.
But I encourage you to take alittle bit of time and plan.
If you haven't planned the restof your year and you know the
second part of this quarter andfourth quarter, start planning.

(05:10):
I know a lot of agents doholiday parties.
If they have not already bookedtheir, if it's a Santa event,
or if they want to have a facepainter or whatever it is, or a
pumpkin patch I mean, there's somany different things Do that
now.
This is a friendly reminder,because I had an agent wait
until September last year and itwas too late.

(05:32):
So if you're going to be doingsomething in the fourth quarter,
plan it now, book it now.
Take some time to really look athow you want to end your year
and how you want to give backand how you want to be in front
of and a part of the people thatknow you, like you, trust you,
your past clients, your sphereof influence, all those people

(05:53):
out there.
So that's my message for todayUntil next week, go out and sell
something and, of course, ifyou need anything at all, drop a
comment below.
Whether you're watching on myYouTube channel or listening on
the podcast, I'd love if yousubscribe, like, left a comment.

(06:13):
Let us know how we can behelping.
We're here and happy to do so,so see you next week.