Market Pulse: Week of May 30, 2026

The weekly read for agents and partners across our footprint — Philly metro, South Jersey, Northern Delaware, and Northern Maryland. The headlines:

• 30-year fixed at 6.53% (Freddie Mac PMMS, week ending May 28)
• 10-year Treasury hovering around 4.45%, off a touch on US-Iran peace talks easing inflation expectations
• Fed held the funds rate at 3.50%–3.75%; SEP shows median FOMC member still projecting one cut in 2026
• Local inventory loosening; we're heading into a more balanced market across the suburbs

Rates: holding the range, watching the 10Y

The Freddie Mac PMMS printed 6.53% this week, up two basis points from 6.51% the week before — but down meaningfully from 6.89% at this time last year. The 15-year sits at 5.87%.

Underneath: the 10-year Treasury, which actually drives mortgage pricing, traded down to ~4.44%–4.45% by Friday — the lowest level in over two weeks. Catalyst was softer PCE inflation plus the tentative US-Iran peace agreement, which pulled some of the geopolitical risk premium out of the curve.

What to tell clients: rates are off their highs but stuck in a range. Anyone shopping right now should expect to live in the 6.4%–6.6% band on a 30-year conventional. If the 10Y breaks decisively below 4.30%, that's where we start seeing 6.25% offers show back up.

The Fed: still in pause mode, with tension underneath

The FOMC held the funds rate steady at 3.50%–3.75% this month. The Summary of Economic Projections (the dot plot) shows the median member still penciling in one cut before year-end.

The interesting part: futures markets are simultaneously pricing roughly a 46% probability of a December hike. That split — Fed projecting a cut, market hedging a possible hike — tells you how much uncertainty is baked into the data. Core PCE annual is 3.3% (above the 2% target, but moving the right direction).

Translation for clients: don't wait for a dramatic rate move. The base case is that we drift sideways into Q3.

Philadelphia: balanced, modestly appreciating

• Median sale price up 5.6% YoY (three months ending April)
• Active listings at ~14,367 — up from prior year, but still 43% below the March 2019 peak
• Days on market: ~49 days (+2% YoY)
• ~4.5 months of supply — moderate, leaning balanced

Sellers shouldn't expect 2021-style multi-offer chaos. Buyers shouldn't expect distressed pricing either. Well-priced inventory in desirable pockets is still moving in under three weeks.

South Jersey: clearer buyer leverage, except at the top

The Camden and Burlington County markets have shifted noticeably toward balanced. Cherry Hill, Mount Laurel, and several secondary towns are running 3–4 months of inventory — meaningful negotiating room for buyers for the first time in years.

The exception: premium school districts. Haddonfield ($850K–$1.15M range), Moorestown, and parts of Medford are still pulling multiple offers when homes hit the market priced correctly. Inventory there hasn't loosened.

Northern Delaware & Northern Maryland: in line with the regional trend

We're seeing the same pattern in our DE and MD pockets: modest YoY price growth (call it 4–6%), inventory off its lows but not flooded, and the school-district premium fully intact. Tax differentials remain a big driver for cross-border buyers — DSHA and Maryland Mortgage Program (MMP) state-bond loans are getting more interest as first-time buyers stretch.

Bottom line for agents this week

• Pre-approval conversations should set client expectations in the 6.4%–6.6% band, not the low 6s.
• The rate-buydown conversation is back — sellers in slower-moving inventory are paying for it again.
• Buyers in secondary South Jersey towns finally have leverage. Push them off the sideline.
• Watch the 10-year. A break below 4.30% changes the conversation fast.

Need a same-day pre-approval or a structured buydown on a specific listing? Ping any banker on the team. We'll have it back to you with full detailed financing breakdowns in hand.