If you’ve been following the news lately, you’ve probably seen plenty of coverage around the September Fed meeting, the early September jobs report, and what these events might mean for the housing market. The headlines are attention-grabbing, but not always helpful. It's easy to find the headlines, but not easy to understand what they actually mean for buyers and agents in the market.

For instance, Fed rates are often confused with mortgage rates, but they’re not the same thing. While the Fed rate can influence mortgage rates, it’s only one factor. The Fed sets short-term policy, but mortgage pricing follows long-term bonds and market spreads. In fact, mortgage rates often move before a Fed announcement. Waiting for a headline can mean missing the opportunity. Instead of trying to time the market perfectly, focus on preparation based on your unique situation.

With all this in mind, let's look at what preparation in this market looks like. Here are three steps to take.

Step 1: Don’t Wait for the Fed Announcement

Many are predicting a Fed rate cut at the next meeting on September 17th, but that doesn’t mean mortgage rates will automatically go down on or after that date. Markets often price in a Fed rate cut days or even weeks in advance. When it seems likely that the Fed will adjust its rate, mortgage rates can already start moving lower. In fact, in early September we’ve already seen some slight downward movement in average rates.

It’s difficult, if not impossible, to predict whether rates will move significantly after the Fed meeting. The key takeaway is that you don’t want to wait for the headlines if you’re thinking about buying a home. Getting pre-approved now gives you clarity on your budget and puts you in a position to act quickly. Movement loan officers are watching the market daily and can give you specific guidance based on your unique situation.

Step 2: Focus on the Opportunities

Today’s market offers more opportunity than buyers have seen in years. Depending on the buyer’s local market condition, sellers may be willing to cover repairs, offer credits toward closing costs, provide more flexible closing dates, or contribute to rate buydowns. However, these conditions could be temporary. If rates continue to move down in September, competition could heat up.

Work with your loan officer and real estate agent to talk through possible strategies in advance. The specifics will depend on the property and whether there’s competition, but having a plan for concessions and negotiation before you make an offer helps you move forward with confidence.

Step 3: Understand Your Budget

It’s tempting to fixate on mortgage rates, but what really matters is finding an affordable monthly payment. Waiting for a specific rate doesn’t make sense unless it’s tied to the payment you want, and even then, there’s no guarantee home prices will stay the same if rates fall.

A better approach is to work with a loan officer to get pre-approved before house hunting. That way, buyers know their true budget and are ready to make an offer when the right home comes along. A loan officer can also help clients run numbers at different price points, review buydown options, and talk through possible strategies in advance. This preparation gives buyers confidence and helps avoid surprises when it’s time to move.

The Bottom Line

This September, the market is being shaped by Fed expectations and easing mortgage rates. The headlines can be confusing, but what matters most is preparation.

• Don’t wait for headlines: rates often move before official Fed decisions
• Keep the big picture in mind: today’s market offers more opportunity with cooling prices and motivated sellers
• Focus on monthly payment: not chasing rates, but planning around a budget that works for them

Preparation, planning, and clear guidance turn uncertainty into confidence for buyers.

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