🏙️ Wall Street Wednesday: Rates, Refis & Real Estate Moves

Mortgage rates just hit fresh lows, refi applications are surging, and inventory is rising — tune into today’s update for the mid-week pulse on housing and finance.30-year fixed mortgage rate (purchase): ~6.62%30-year fixed refinance rate: ~6.78%15-year fixed refinance rate: ~6.12%The 10-year Treasury yield eased to about 4.30%, down from earlier in the week.Markets are watching Jerome Powell’s Jackson Hole speech this Friday, with expectations for hints on rate cuts, though inflation remains a concern.Mortgage Applications: Refinancing activity surged 23% week-over-week. ARM applications jumped 25% to their highest level since 2022, now nearly 10% of all mortgage applications.Pricing: Median new-home price has dipped to around $410,800, while existing-home sales in June recorded a record-high median of $435,300.Inventory: Active listings are up more than 30% year-over-year. Median list price sits around $440,950, with homes averaging 53 days on market.Brooklyn Boom: Downtown Brooklyn delivered more than 3,700 new residential units in the first half of 2025 — a record pace — including the Rocklyn (1,098 units) and Everly (569 units). Another 1,183 units are slated by year-end.Menlo Park Mega Deal: Presidio Bay Ventures acquired the former U.S. Geological Survey campus in Menlo Park for $137 million. The 18-acre site will be master-planned with community input.Luxury Moves in New York:An Aman-branded condo at 730 Fifth Avenue sold for $28 million (nearly $6,300 per square foot).A retail condo at 85 Jay Street in Brooklyn’s Dumbo closed for $54.5 million.A sponsor unit at 50 West 66th Street sold for $11.7 million.Powell’s Jackson Hole address is scheduled for Friday, August 22, at 8 AM Mountain Time. Markets are bracing for guidance on the Fed’s path forward.Capitalize on the refinance rebound. With rates hovering at recent lows and ARM demand spiking, now is the time to market refinance and ARM solutions to homeowners and investors eager to lock in short-term flexibility or savings.Happy selling!Teresa Grobecker, MBA, CRPCInvestment Banker, Angel to Series C, Capital Formation, CRE and Gov Contracting, Defense, Policy and Real Assets Investor, Futurist and Fixer at the Intersection of FinanceCA DRE 01908507 NMLS 1286612, CEO and Broker of Record, Grobecker Holland International, Inc., CA DRE 01976696 NMLS 1295266