First, an apology

I missed sending last week's issue. No excuse, just a goof. The good news is the rate story didn't change much in the gap, and this week's data is actually more useful. So consider this a 2-for-1. Thanks for sticking with me.

30-Year Mortgage Rate (Freddie Mac PMMS)

6.37% ↑ 7 bps (second straight increase)

Daily rate today (MND)

6.40% ↓ from 6.50% Wednesday on Iran de-escalation talks

What that means on a $400K loan (P&I)

~$2,494/mo ↓ ~$103/mo vs. a year ago ($1,235/yr)

10-Year Treasury (CNBC)

4.34% ↓ from 4.45% Monday's 9-month high

Pending home sales this week vs. last year

+10% YoY highest level in 3+ years (Redfin / Compass)

🚨 Heads up: April Jobs Report drops at 8:30 AM ET TODAY

Consensus is +55K to +70K nonfarm payrolls. Big miss either direction moves rates within hours of you reading this.

Source: Freddie Mac Primary Mortgage Market Survey® (PMMS®), week ending 5/7/2026. Daily rate from Mortgage News Daily. Pending sales data from Redfin and Compass weekly reports. Rates shown are national averages for a conforming 30-year fixed-rate mortgage and do not represent a personal rate quote or offer to lend. Payment example assumes a $400,000 loan amount, 30-year fixed term, 20% down payment, and does not include taxes, insurance, or PMI. Your actual rate, payment, and costs may vary based on your financial profile. Rate ≠ APR. Not all applicants will qualify.

What to Say to a Buyer (community/SOI)

"[Name], I want to share something with you because I think it gets missed in the noise. You've probably been hearing for months that the housing market is dead. The actual data this week tells a different story. Pending home sales are at a 3-year high. New home prices just hit the lowest level since 2021. People you know are closing on houses right now. I'm not saying you have to make a move today. I'm saying the people who told you to wait are looking at headlines, not numbers. If you want to spend 20 minutes looking at what your specific situation looks like in the actual market, let's grab coffee this weekend."

What to Say to a Seller (curiosity-pivot)

"[Name], can I ask you a quick question? When was the last time you actually checked what your house could sell for? [Let them answer.] Here's why I'm asking. Right now, homes are taking about 43 days to go under contract. That's three days longer than last year, but the buyers are out there. The catch is the homes that price right out of the gate are the ones moving. The ones that overshoot sit, then take cuts that end up bigger than if they'd priced it right. If you're 6 months or even 6 weeks from thinking about selling, the time to look at the math is now, not when the sign goes in the yard. Want me to put numbers together for you this week?"

[name], pending home sales just hit a 3-year high. While everyone's been watching rates and headlines, contracts are being signed. The buyers who are pre-approved are the ones writing offers. Want me to connect you with my mortgage guy this weekend?

[name], new home prices just hit the lowest level since 2021. Builders are negotiating. If you've been waiting for prices to come down, this is what that looks like. Worth a 10-minute call?

[name], homes are taking 43 days to go under contract right now. The ones priced right are still moving. The ones that aren't sit and take price cuts. If you've thought about selling this year, now's a good time to look at what your house would actually do. Coffee this week?

[name], pending sales are the highest they've been in 3 years and inventory is up too. If moving up has crossed your mind, this is the kind of window where the math works out better than people think. Want me to pull what your place could sell for and loop in my lender?

Everyone keeps telling me the spring market is dead.

Pending home sales hit a 3-year high this week. New home prices are at the lowest level since 2021. Google searches for homes are up over 20% from a year ago.

So either everyone telling me the market is dead is wrong, or the buyers writing all those contracts haven't gotten the memo.

If you've been waiting for "things to settle down" before you make a move, the things you were waiting for are already happening. They just don't make for good headlines.

What's actually keeping you on the sidelines right now? Drop it below. I'll tell you straight up if it makes sense to wait or not.

1. Real conversations per week

Not texts. Not likes. Not "checked in." A real conversation is one where housing came up, you learned something about their situation, and the relationship moved forward. Count them every Friday afternoon. If the number drops, your closings drop 60 days later.

2. Appointments kept (not just set)

Setting appointments is easy. Keeping them is the real signal. Track both numbers and watch the gap. A wide gap means your urgency-creation isn't landing or your follow-up timing is off. A small gap means you're booking real intent.

3. Follow-up touches with intent

Random check-ins don't count. A follow-up with intent is one tied to a specific reason: a market update they care about, a property that fits, an answer to a question they had. The agents who outperform aren't smarter or luckier. They follow up better than the next guy. Consistency beats intensity every time.

Market Update — May 8, 2026

Mortgage rates ticked up slightly this week. Compared to a year ago, you'd still be paying about $103 less per month on a typical home. That's around $1,235 a year that doesn't leave your account.

Here's the part most people aren't talking about. Pending home sales just hit the highest level we've seen in over 3 years. Builders dropped new home prices to the lowest level since 2021. Buyers are out there. Searches for homes are up over 20% from this time last year.

The April jobs report comes out today. Whatever it shows will move rates by this afternoon. The buyers and sellers who were prepared this week are positioned to act on whichever direction it takes.

If you have questions about what this means for your situation, hit reply and I'll connect you with my team.

This is a general market overview based on national averages from the Freddie Mac PMMS® for the week ending 5/7/2026 and is not an offer to lend. Your actual rate and payment will depend on your individual financial profile. Cole Brantley, NMLS# 1905939. Mpire Financial, NMLS# 2108504. Equal Housing Lender.

This week's question

"The average loan size on a U.S. purchase mortgage application hit an all-time high this week, the highest since the survey began in 1990. What was the dollar amount?"

Text the answer to

(813) 579-8812

Clock starts now. Cuts off at 12:00 PM ET sharp. One entry per agent.

1. Text me the intro

Three-way text works best: "Cole, this is [client]. They're looking at a [purchase/refi]. Can you take it from here?"

2. I reach out within an hour

Same-day call or text. No phone tag. No long forms before they hear from a human.

3. Free 15-minute consult

No commitment. They get real numbers, real options, and a clear next step. You get a buyer who's actually qualified.

4. You stay in the loop

Updates at every milestone. Pre-approval, contract, appraisal, clear-to-close. You never have to chase the file.

🧠 Weird Stat of the Week

The median U.S. home sold in 1980 was $63,700. Adjusted for inflation, that's about $245,000 today. The actual current median is $408,800. So when boomers say "we paid more for our houses than you think," they're partly right. They paid less in real dollars, but mortgage rates were 13.7%. Their payment was higher than yours.