Real Estate News and Auction

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The Arizona Department of Housing (ADOH) and Gov. Katie Hobbs announced a significant expansion of a state initiative aimed to increasing homeownership and providing housing relief to low-to-middle income first-time buyers.

Although there were flashes of potential volatility in the underlying bond market at times today, mortgage rates made it through unscathed.  In other words, the volatility wasn't sufficient to force the average lender to make mid-day changes to the rates they decided to offer this morning. Whereas yesterday saw an inconsequentially small increase of 0.01% to the average conventional 30yr fixed rate, today saw just the opposite.  That means our rate index once again matches its lowest level since October 4th, 2024.  While this is undoubtedly a victory, rates would need to fall quite a bit more in order to hit the next milestone at the levels just one month earlier in early September (6.11% back then versus 6.57% today). An improvement like that would require multiple downbeat economic reports over the course of several weeks as well as lower-than-expected inflation readings.  Without that sort of data, there's a risk that rates aren't able to make much additional progress from here.

The former Google X exec Mo Gawdat said AI would replace most white-collar jobs and warned of a looming "short-term dystopia."

Investors may want to think twice about betting broadly on a “strongly rising U.S. economic tide,” JPMorgan’s David Kelly writes. Same with lower interest rates.

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Dow, S&P 500, and Nasdaq surged amid hopes for a Fed rate cut as the stock market recovers following a tumble after a dismal jobs report.

Thirty-year mortgage rates moved down to 6.63%, according to Bankrate's latest lender survey. They're not likely to plunge.

"The next 15 years will be hell before we get to heaven," Gawdat told British entrepreneur Steven Bartlett on his "Diary of a CEO" podcast on Monday.

Google’s former chief business officer Mo Gawdat says the notion AI will create jobs is ‘100% crap’. He warns it’ll wipe out jobs, with even ‘incompetent CEOs’ and ‘evil’ government leaders on the chopping block.

Home Prices will Rise

The Dow, S&P 500, and Nasdaq futures are rising in early trading as the stock market bets on a Fed rate cut in September.

Capital Gains Tax Reform

JOB MARKET BLUES