💰 Cash Buyers Are Still Flexing — But Losing Steam
Did you know one-third of all home sales this year were cash deals? That’s right — no lender, no problem. But here’s the fun part: that number’s dipping as rates soften and financing becomes cool again.
✅ More financed buyers are getting back in the game
✅ Cash isn’t king forever — your lenders are!
✅ This means more opportunities for you and your buyers to compete (and win)
🏠 Loan Product of the Week: The FHA Comeback Kid
Our FHA loan program is crushing it right now — helping buyers who thought they were out of the game make a comeback.
Why agents love it:
- 🏡 Credit scores down to 500 (yes, five-hundred!)
- 💵 Down payment as low as 3.5%
- 📈 Super flexible on income and debt ratios
- 🧰 PLUS — we help with credit repair and future-buyer coaching
So even if your buyer isn’t quite ready today, we’ll get them there. You bring them the dream — we’ll bring the loan (and maybe some coffee).
📉 Mortgage App Volume — A Short Pause Before the Next Sip
Last week’s data shows:
- Applications dipped 3–5%, but still up 20% year-over-year
- ☕️ Refis down 1–3%, yet up 59% overall
- 📈 ARM loans are making a comeback — about 1% lower than 30-year fixed
Translation: Things are still buzzing. Buyers are adapting, refis are alive, and ARMs are the secret ingredient for affordability right now.
🏛️ Fed Watch — The Chair Chase
We’re officially in Fed Chair Survivor mode. 🪑
Contenders: Kevin Hassett (front-runner), Christopher Waller, Michelle Bowman, Kevin Warsh, and Rick Rieder.
Governor Waller (the “Cut Rates” guy) said on Oct 10 he wants two more Fed cuts this year — the next could drop Oct 29.
If that happens → lower rates → happier buyers → more escrows → more reasons to celebrate 🥂
🕰️ Government Shutdown: Day 15
We’re two weeks in, and the cracks are starting to show:
- IRS delays = slower income verifications
- FHA, VA, USDA = still open but under-staffed
- Some flights = ✈️ “fashionably late”
Economists say we might see another 1–2 weeks of shutdown drama, but lenders are staying proactive to keep files moving.
🤝 Let’s Wrap It Up
Less cash. More loans. Softer rates. Bigger smiles. And one heck of a reason to reach out to your clients today.
Whether it’s helping buyers with low credit, locking in lower payments, or explaining what the Fed’s up to — 21st Century Lending has your back.
🏦 Rates are subject to daily change
Let’s stay ahead of the market together.
21st Century Lending
Modern Lending. Real Relationships.