Recent global news has caused significant market volatility, leading to fluctuations in interest rates. Several factors will influence rates leading up to the mid-September Fed meeting, including upcoming inflation news and two more employment reports. Market expectations regarding the Fed's rate decisions will already be built into the market by mid-September, impacting rates accordingly.

In the latest update regarding the NAR Settlement and it's effects, we have great news for first-time buyers; Fannie Mae, Freddie Mac, and FHA have now confirmed that seller paid commissions will not be counted into the maximum allowed for interested party contributions. We are still awaiting key details from the VA, and will remain diligent as new information unfolds.

Despite initial confusion, buyers' agents can still receive compensation from sellers, commission just can’t be offered through the MLS. Ensuring all parties are well-represented will be crucial to smoother transactions in this new market.