The stock market and Mortgage Bonds are lower to start the day as news broke that Saudi Arabia’s East-West pipeline is being repaired, restoring roughly 50% of pre-war production.

Turns out nothing calms jittery markets quite like the promise of more oil flowing, supply worries ease up, energy prices cool off a touch, and traders react accordingly. It’s a reminder of just how tightly global bond and stock movements are tied to headlines happening thousands of miles away.

On the housing front, Pending Home Sales in August rose 0.3%, a small but welcome sign of life. The catch: sales are still down 4.7% year-over-year, largely thanks to stubbornly high interest rates keeping would-be buyers on the sidelines.

Fewer people are willing to “take the plunge” right now, which, counterintuitively, could actually work in a buyer’s favor. Less competition often means more negotiating power, more inventory to choose from, and sellers a little more motivated to make a deal happen.

So if you’ve been waiting for a sign, this might be it: less crowded market, sellers a bit more flexible, and rates that, whenever they do ease, could bring a wave of buyers right back in with you already ahead of the pack.

Have a fantastic weekend, and remember, reach out any time you have questions! http://www.YourApplicationOnline.com