Today's Market News:
Consumer Prices Rise Slightly During July
The Consumer Price Index rose 0.1% in July after falling 0.4% in June, according to the most recent Bureau of Labor Statistics report. Over the last 12 months, the all-items index is up 3.4%, a slight cooling from June's 3.5% annual reading.
These numbers land in a week when borrowing costs are already at their highest point of the year. The Freddie Mac 30-year fixed-rate mortgage averaged 6.69% as of August 6th, up from 6.66% the prior week.
A single month of soft inflation data rarely moves mortgage rates on its own. Analysts widely expect the market to hold its current range until either inflation or employment shifts decisively, or until geopolitical pressure on oil prices eases. For agents, that means that property and loan pricing are expected to see only minor changes for the time being.
If your buyers are hesitant about entering the market now, refer them to me so we can discuss their options.1
Sales Surged in July, But Pending Listings Fell
Home sales rose 7% year-over-year in July, the strongest annual gain of 2026, according to Zillow's July Market Report. An estimated 382,898 homes changed hands.
However, newly pending listings — the leading indicator of future closings — grew just 0.3% from a year ago and fell 7.7% from June. This is causing concern that the inventory pipeline for future sales may be running dry. July's closings mostly reflect offers accepted in June, when rates hovered near 6.5%, before an oil price shock pushed borrowing costs higher and caused some buyers to withdraw from the market.
Supply continues to build, which reinforces buyer markets in some areas. Inventory sits 1.5% above last year's levels, helped by 3.1% annual growth in new listings, extending a 32-month streak of supply gains. Competition, meanwhile, is holding flat rather than intensifying: 30.8% of homes sold above list price in June, the most recent month available, compared with 30.9% a year earlier.2
Small, Surprise Gifts Make a Big Difference
Handing out small, pop-by gifts at an open house or showing can keep you top of mind with buyers, sellers, prospects, and neighborhood businesses, opening the door to more business and referrals. Just choose an inexpensive item and create a colorful card with your sales message and contact information.
Goldfish crackers. Available in snack-pack sizes, your message can let people know that you're fishing for new clients or referrals.
Miniature flashlights. Printed with contact details, they support a message about lighting the way to a client's next sale or purchase.
Flavored popcorn. Small bags come in gourmet varieties, from caramel to Himalayan pink salt, and pair naturally with a note about popping by to say hello or to say thanks.
Pumpkin carving kits. These are available in different sizes and especially suitable for the upcoming Halloween holiday.3
More Prospects Qualifying for Mortgages
Mortgage credit availability rose 2.5% in July to a reading of 108.4, its highest level in four years, according to the Mortgage Bankers Association's Mortgage Credit Availability Index. A rising index tells us that lending standards are loosening.
The Conventional index rose 3.0%, and the Government index rose 1.8%. Within conventional lending products, the Jumbo index jumped 4.2% while Conforming slipped 0.2%.
The MBA attributed most of the increase to greater availability and expanded guidelines for adjustable-rate and streamline refinance loans, including some programs with lower documentation requirements. Joel Kan, CMB, MBA's Vice President and Deputy Chief Economist, noted that Jumbo credit availability has grown in nearly every month this year, bringing that index to its highest point since 2020.
If you have one or more buyer prospects who were turned down for financing earlier this year, refer them to me for another look.4
Give Yourself a Screen Test Before Going Live
Practice Mode for vertical livestreaming is being rolled out to YouTube creators, and will be accessible through the YouTube mobile app. If you don't see it on your phone app today, keep checking back.
Once you're in Practice Mode, you can test various backgrounds and other elements of your message in a private recording window. When you're happy with the looks of your streaming video, you can go directly from Practice Mode to Live.5
Sources: 1bls.gov, 2zillow.com, 3theclose.com, 4mba.org, 5socialmediatoday.com.
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