Overview

• Average 30‑year mortgage quotes have slipped to recent lows, with HousingWire at 6.72% and NerdWallet/Zillow at 6.59%.
• CME FedWatch shows nearly 92% odds of a 25‑basis‑point cut on Sept. 17, which would lower the policy range to 4.00%–4.25%.
• Fed officials are watching Friday’s August employment report closely, with additional inflation readings due before the decision.
• Housing data signal gradual relief: inventory growth has cooled to 22% year over year, 42% of listings carry price cuts, and First American’s index shows a 3.1% affordability improvement from a year earlier.
• A legal fight after President Trump’s attempt to remove Fed Governor Lisa Cook, now challenged in court, introduces a governance risk that analysts say could influence rates.