This week, the Federal Reserve chose to hold the federal funds rate steady, right where it is after three consecutive rate cuts. Policymakers cited a stabilizing labor market as the primary reason for holding rates, noting there is less urgency to make additional moves at this time. Inflation is not reaccelerating, but it remains elevated, and hiring demand has not picked up in a meaningful way.

Outside of the Fed decision, the 10 year Treasury yield, which plays a major role in mortgage rate movement, increased slightly this week and is sitting around 4.24 percent. While that can influence short term mortgage pricing, there has not been a dramatic shift.

In other major news, President Donald Trump announced he will nominate former Federal Reserve official Kevin Warsh to be the next Chair of the Federal Reserve, replacing Jerome Powell. Warsh served on the Fed’s Board from 2006 to 2011 and was the youngest governor in history when appointed at age 35. During his tenure, he was known for opposing prolonged low interest rate policies and for expressing concern that inflation could accelerate following the Great Recession. With that history, many are watching closely to see whether a Warsh led Fed would push rates lower or prioritize holding them steady for longer.

What I am seeing on the ground here in Brentwood and across Williamson County is a noticeable increase in buyer activity. Showings are up, engagement is stronger in well-priced neighborhoods, and buyers who had been waiting on the sidelines are becoming more comfortable with the idea that lower rates may be ahead. Confidence is returning, especially among buyers who are focused on long-term plans rather than trying to time the market perfectly.

As always, national headlines matter, but local market behavior often tells the real story first. If you are thinking about buying, selling, or simply trying to understand how today’s economic environment impacts your plans, I am always happy to walk through it with you.