05/22/2026
Rates don’t fall because buyers are tired.
I wish they did.
Kevin Warsh was sworn in as Fed Chair today.
That is the headline.
The rate sheet did not get a reset button.
This week, the market was pricing something less fun:
Inflation pressure.
Higher energy costs.
A jumpy 10-year Treasury.
Mortgage rates back in the upper 6s.
A Fed that is not lined up for an easy cut.
So when a buyer asks:
“Does the new Fed Chair mean rates are going down?”
I would not answer with a prediction.
I would answer with a plan.
What payment works today?
What happens if the rate moves again?
Is a seller credit stronger than chasing a small price reduction?
Would a buydown help the first year?
Can we lock before the weekend?
Does this specific house give us room to ask?
For buyers in Pierce, Kitsap, King and Thurston, the answer is not one-size.
Inventory is better than it was.
Affordability is still tight.
Some homes are sitting.
Some homes are still competitive.
A buyer does not need panic.
A buyer needs the number before the house gets emotional.
Agents, this is a good weekend to bring the conversation back to payment, credits, lock timing, and the actual home your buyer is writing on.
Not the headline.
The math.
