Don't look now but the FED meets tomorrow and is highly anticipated to reduce the FED Funds rate further by .25%

Most Mortgage lenders have already priced this adjustment into scenarios which is why mortgage rates hit the lowest point of 2025 last week. 

If trends hold - the 30 year fixed rate for a primary home borrower could average below 6% by - or during the 1st quarter of next year. 

We are anticipating a compounding of purchase & refinance interest with every .5% drop in real rates. For example the volume of those that would benefit from a refinance from current rates around 6% would accelerate at 5.5% and re-accelerate at 5%.