The Accunet Mortgage and Realty Show (8-17-2025) Episode

# Market Momentum Returns as Summer Winds Down

As August unfolded, the mortgage landscape began showing signs of renewed activity after what many in the industry described as a sluggish July. Brian Wickert and David Wickert from Accunet Mortgage recently discussed the shifting dynamics they’re observing in both the lending and real estate markets, offering valuable insights for anyone considering a home purchase or refinance.

## Fed Expectations Drive Current Conditions

The conversation opened with an analysis of Federal Reserve expectations, with David noting that market futures currently show a significant likelihood of a rate cut in September. “Bond markets don’t wait for the moves, for the event to happen. It’s like it’s already happened,” Brian explained, highlighting how mortgage rates often move in anticipation of Fed policy changes rather than after they occur.

This forward-looking behavior in the markets has created opportunities for both refinancing existing homeowners and new buyers. However, the Wickerts emphasized that future rate movements will largely depend on employment data. “What it’s going to take for rates to go down further would be weaker jobs reports,” Brian cautioned, noting that recent employment revisions have been a key driver of current market conditions.

## Real Estate Activity Rebounds

After a quiet July that had some industry professionals wondering if the market had stalled, August brought renewed energy. David shared his observations from recent broker events: “The Milwaukee market took a breath in July… but it seems as though everybody’s back in the market and want to get into that next place.”

This resurgence has led to successful transactions, including some complex scenarios involving new construction and move-up buyers. These situations require careful navigation of timing issues and contingencies, with both lenders and real estate agents working together to protect buyers while ensuring deals can close smoothly.

## New Construction Requires Strategic Planning

One particularly interesting case involved a new construction purchase with an extended timeline. The buyer’s agent wisely requested a longer financing contingency period, recognizing the unique challenges of coordinating mortgage approval with construction completion. “We deliver financing commitment middle of September… that’s like almost 75 days between when they might deliver financing and closing,” David explained, illustrating why standard contingency periods might not work for construction loans.

The solution involved creative structuring, with contingencies triggered by construction milestones rather than contract acceptance dates. This approach provides protection for buyers while giving lenders the flexibility to properly underwrite and appraise properties that are still under construction.

## The Commission Settlement’s Minimal Impact

A year after the National Association of Realtors implemented new commission structures following their class action settlement, the practical impact has been surprisingly limited. “Nothing’s really changed,” Brian concluded after reviewing recent industry data showing buyer agent commissions have returned to pre-settlement levels.

While the new rules require more transparency and separate agreements between buyers and their agents, the fundamental economics of real estate transactions have largely remained intact. Most buyers still rely on sellers to cover agent commissions, as few have additional cash available beyond down payments and closing costs.

## Market Conditions Vary by Region

Despite national headlines about price reductions and market softening, Wisconsin markets continue to show strength. Local data reveals that while national price reduction rates exceed 25%, Wisconsin markets are seeing much lower adjustment rates, with Milwaukee metropolitan area seeing reductions on only about one in eight listings.

As the Wickerts concluded their discussion, the message was clear: while markets continue to evolve, opportunities exist for both buyers and those looking to refinance, particularly for those who work with experienced professionals who understand the current landscape.