Happy Labor Day Weekend!

The Weekly Recap

Good morning and happy Labor Day Weekend! The Fed’s Jackson Hole Summit last week shows promising signs of an impending rate cut, median home prices are down for July, US Q2 GDP was revised up to 3.3%, tariffs could take a huge chunk out of the federal deficit, the US Open is in full swing with the pricing for its famous Honey Deuce drink flat YoY (take that inflation), some homebuyers want to have a sleepover in a home before making a decision to purchase and the most watched movie of all time on Netflix is a cartoon musical about a KPop group who moonlights as demon hunters just in case you thought you knew what entertainment was.

If you missed last weeks newsletter on What the Summer Can Tell Us To Expect From the Market in September, you can read that through the link.

Happy Labor Day Weekend!

This section will be back next week, enjoy the long weekend and try to squeeze out as much of the last bits of summer that you can!

Market Performance

Here are how some other indexes and asset classes have performed as of this morning’s opening bell.

NYC Market Update

Here is a view of NYC market activity over the past week.

Mortgage Rate Update

Mortgage rates are at a 10-month low as purchase demand continues to climb on the backs of solid economic growth and lower rates. While some homebuyers may face affordability challenges nationwide, the continuing downward trend of rates alongside the prospect of a Fed rate cut in September may provide the impetus for those on the sidelines to get into the marketplace.

News You Can Use

• Powell Indicates Conditions May Warrant Rate Cut CNBC

• Powell Suggests Rate Cuts Are Coming CNN

• Fed’s Jackson Hole Meeting Shows Tough Road Ahead for Central Bankers Bloomberg

• Median Home Prices Fall in July CNBC

• Trump Tariffs Could Reduce Deficit by $4Trillion Reuters

• Homebuyers Are Trying Out Homes With Sleepovers Before Purchase NY Post

• US Open Fans Are Feeling the Squeeze of Big Crowds Gothamist

• Canada to Remove Many Retaliatory Tariffs Against US Reuters

• Netflix’s Most Viewed Movie of All Time is a Cartoon Musical Bloomberg

The Deep Insight

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