A QUEEN CITY STORY

This past week marks 22 years of living in Charlotte, NC.  I’ll never forget the days of trepidation leading up to my move from Rochester, NY.  I didn’t have a job lined up, didn’t have a place to live, didn’t have a network of friends, and didn’t have a firm plan.  I had a few bucks in my pocket and a goal; to figure it out and make it happen.  Over the past 2.2 decades the things I appreciate the most are the people (Charlotte is a melting pot), the places (squeezed between 2 lakes and centrally tucked between mountains and beaches), and the possibilities (a City continuously on the rise).  To date moving to Charlotte has been one of the 3 best decisions I’ve made in life, and here are the 3 things to know this week.

Work Hard: Mortgage rates fell to 6.35% this week, the biggest weekly drop this year.

Let’s start with some good news…rates are down again week over week.  Last week rates averaged around 6.5% and this week 30-year mortgage rates fell to 6.35%.  Per Freddie Mac this marks the lowest level since Oct. 2024 and the biggest drop of the year.  As of yesterday (Thurs 9/11) the rates had dropped to 6.27%. 

Be Kind: Mortgage purchase applications increased 7% as of week ending 9/5/25. 

The continued downward rate movement has led to the strongest week of new buyer demand in over 2 years. Refinance applications also made a strong improvement, ticking up 12%.  Applications overall rose to 9.2% overall for the week ending Sept. 5.  Assuming applications continue to increase we should expect more willing and able buyers to enter the market. 

Love Thy Neighbor: The U.S. added just 22,000 jobs in August; well below expectations. 

The release of the most recent CPI report indicated retail inflation rose to 2.9%.  Yet the sluggish jobs report and downward trajectory of labor market data is leading to speculation that the Fed will almost certainly cut short-term interest rates when they meet next week.  How will this potentially impact mortgage rates?  Many suspect they will also continue to drop…however we’ll have to wait and see. Hopefully some more relief for buyers is on the way!

This has been a heavy week for us individually and as a nation…to say the least.  It seems like an appropriate time to show a little more appreciation, have a little more gratitude, offer a little more grace, and remember; We’re never as great as our best day - We’re never as bad as our worst day; Be Confident - Stay Humble.