The Punch List: Buyer's Market, 7% Mortgage Rates & Product Recalls

This week on The Punch List, I break down why buyers finally have the upper hand, with mortgage rates back above 7% and Redfin reporting 57.9% more sellers than buyers in August. We run through the latest product recalls, and I recap emceeing Rock the Locks, where I proposed to Alisa backstage and she said yes. We kick this midweek Punch List off with that high-energy recap before diving into the real stuff. We dig into fresh housing data: mortgage rates have crept back above 7% (Freddie Mac ~7.03%, Bankrate ~7.33%), existing-home sales hit a 2026 low, and Redfin says there were about 57.9% more sellers than buyers in August — the most lopsided market on record. That imbalance means tons of price cuts (Denver hit 31.4% of listings with cuts; Portland about 30.5%), builders are even buying down interest rates by a couple points in some markets to compete, and remodeling activity is stalling as homeowners hold off on big projects. We also run a hard-hitting recalls roundup — from online mattresses failing flammability rules to smart glasses that can overheat, reclining-chair battery packs sold on Amazon, heated blankets, infrared saunas that can short and overheat, pool heaters risking carbon monoxide, and more — so if you’ve got any of that gear, please go check it. Bottom line: great music and good vibes at the festival, but the housing market’s getting messy and your stuff might be a recall away from drama — we walk you through what to watch and what to do next, plus I sneak in a teaser for our weekend show and the new YouTube reviews (generator and one-person grill tested at the fest).

Takeaways:

I emceed Rock the Locks last weekend, proposed to Alisa backstage, and honestly couldn't stop smiling — it was an epic, music-fueled highlight that reminded me why live events matter.We're seeing mortgage rates around seven percent (and sometimes higher), which is squeezing buyers, cooling sales, and making now a real window for renters with savings to pounce.I dug into Redfin's August data — about 57.9% more sellers than buyers nationally — and that lopsided inventory gives buyers real leverage in many markets.We're watching builders buy down interest by as much as two points, so new construction with lower rates and big warranties is outcompeting comparable existing homes right now.We ran the recall scoreboard on the show — everything from tens of thousands of flammable online mattresses to overheating smart glasses and saunas — so please check cpsc.gov and do