CRE360 Morning Pulse - September 4th, 2025

 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.