All eyes are on the Federal Reserve. 
 Governor Chris Waller said he supports a September rate cut, with the pace dependent on incoming data. 
 Markets are already pricing in a near-certain move. Futures imply a ninety-two percent chance of a twenty-five basis-point cut at the September seventeenth meeting. 
 The current policy range sits at four and a quarter to four and a half percent. Waller favors a gradual path down.
 For real estate, the implications are direct. Rate relief lowers debt service, extends buyer underwriting, and accelerates a lending thaw that was already visible in the second quarter.
 According to the Mortgage Bankers Association, originations jumped sixty-six percent year over year and forty-eight percent quarter over quarter. 
 In short, easier money could reopen the financing pipeline.