Today’s mortgage rates already reflect expectations of a Fed rate cut on September 17.

Rents fell by up to 8% in some markets during the second quarter.

Leasing velocity and active demand slackened in many markets during Q2.

San Francisco and Chicago are defying the national rent slump.

Conservative lending is shielding against further CRE losses.

Expect lender-facilitated sales, deed-in-lieu of foreclosures and foreclosures in the short term.

Investment activity is expected to rebound for the remainder of the year.

Slower job growth and rising inflation complicate the fall interest rate cut picture.