The Job Market Just Sent Us a Gift

Friday’s jobs report came in soft:

• Only 22,000 jobs added vs. the 75,000 expected.

• Unemployment up to 4.3%, the highest since 2021.

• June’s numbers were revised down to show an actual loss of 13,000 jobs.

Translation?

The economy is slowing.

And when the economy slows, the Fed is more likely to cut interest rates.

That’s exactly what the market reacted to on Friday.

Mortgage rates dropped sharply—the 30-year fixed FHA fell to around 5.625% and conventional 5.99%, an 11-month low. These are the exact numbers our preferred lenders are running in real time.

This all sets the stage for the big Fed meeting on Wednesday, September 17 at 2:00 PM ET, when Jerome Powell announces whether rates are officially being cut again.

What It Means for Us as Agents

• Buyers on the sidelines are hearing “rates are falling” everywhere right now.

• Lenders are already sending out refi quotes nonstop (Alex has been buried in them since Friday).

• Media chatter about “lowest rates in a year” means two things for us: inbound interest is spiking and more buyers for your listings.

Your leads, old and new are scrolling, searching, and wondering if now is their time.

Here’s the full breakdown for a $400,000 loan, 30-year fixed:

• At 6.8% → $2,608/month

• At 6.5% → $2,528/month

• At 5.99% → $2,396/month

• At 5.625% → $2,303/month

Difference: Between the highest rate (6.8%) and the lowest (5.625%), that’s about $305/month saved.

Over the full 30-year term, that’s $109,827 less paid in interest.

How to Explain It to Clients

“Think of it this way: A half-point drop in interest rate isn’t just a number. It’s like getting a $40–$60k discount on your home over the life of the loan. And it drops your monthly payment enough to cover a car payment, groceries, or a couple family dinners out every month.”

Plan of the Week

Don’t wait for Powell’s press conference. The momentum is already here.

This week:

Pull a list of all the leads from your database who went cold in the past 6–12 months because of high interest rates.

Call, text and email them back with this line:

Simple. Timely. Relevant.

You’ll be surprised how many of them answer differently today than they did three months ago.

Make every day count 🚀

Magali

Magali Pattison
Envision VA Home | Agent Launch
Virginia | Nationwide
https://envisioneers.us/careers