Home Inspection Report
A home inspection report is important, but it doesn't cover everything in the house.
A home inspector will perform a visual inspection of your property from top to bottom, including all the main systems. State laws and professional associations require home inspectors to give clients two documents as a matter of business and ethics: written home inspector contracts and written inspection reports.
Pre-inspection agreement
Obtain a copy of the pre-inspection contract before the inspection takes place. Read and understand the document before the inspector starts the investigation. Ask the inspector to clarify anything you do not understand.
The agreement should contain the scope of the inspection services the person intends to perform as
Mortgage Rates Just Dropped—But the Bigger News Is What’s Happening Behind the Scenes
Auguest 6, 2025 Reading Time: 4 minutes
After months of stubbornly high rates, the average 30-year mortgage dropped to 6.57%—its lowest point in 10 months. That may not sound like much, but for many buyers, it could mean the difference between stretching to afford a home and having room to breathe.
Let’s break down what’s happening—and why buyers might finally have a little more leverage.
💸 What the Rate Drop Really Means
On a median-priced home (around $447,000), today’s average rate brings the estimated monthly mortgage to $2,862. Compare that to mid-May—when rates topped 7%—and that payment would’ve been closer to $2,983.
That’s over $100 a month back in your pocket.
For higher-priced homes and larger loan amounts, the savings grow fast. Some buyers now qualify for $30,000–$40,000 more in purchasing power—or they can stick to their original budget and lower their monthly cost.
📉 Why the Drop Happened
This dip isn’t random. It followed a weaker-than-expected July jobs report, which showed fewer new jobs and significant downward revisions for May and June. That signals economic cooling—a key factor in pushing rates down.
But don’t get too comfortable. Mortgage rates are highly sensitive to economic news. A sudden inflation spike or unexpected Fed policy could send rates climbing again. This isn't a permanent shift—it's a temporary window.
🏠 Why Buyers Have More Room to Move
The bigger story? Buyers aren’t just getting better rates—they’re getting more leverage:
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Inventory is rising, even in markets that felt tight earlier this year.
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Competition is thinning slightly as some buyers pause, expecting deeper drops.
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Sellers are adjusting, with more price reductions and openness to negotiation.
While technically still a seller’s market in many areas, the balance is shifting. Homes are taking longer to sell, and price drops are more common than they were just 6 months ago.
🕰️ Should You Wait or Buy Now?
Waiting might lead to lower rates—but it also might mean missing out on the right home. Many buyers are choosing to buy now while inventory is more favorable, with the option to refinance later if rates improve.
If the house fits your needs and budget, now could be a strategic time to act.
Bottom Line:
Rates dipped—but the real story is the opportunity it opens for buyers. More homes, more leverage, and a chance to buy smarter while others sit on the sidelines.
