|
Mortgage Market Update
Trey Camp
Edge Home Finance LLC
Thursday, September 3, 2026
|
New home sales stumble, but existing homes hold steady |
|
The housing market sent mixed signals this week—new construction is cooling while existing-home sales prove surprisingly resilient. Here's what it means for your wallet and your timing.
|
|
|
Loan Programs
Not all mortgages are created equal
When you're shopping for a mortgage, the interest rate gets most of the attention—but the loan program itself matters just as much. A 30-year fixed, an ARM, an FHA loan, a conventional mortgage—each one has different rules, flexibility, and long-term costs. What works for your neighbor might not be right for your situation. The program you choose affects how much you pay over time, what happens if rates shift, and how much flexibility you have down the road. I'd like to walk you through the options that fit your timeline, budget, and comfort level so you're not just getting a good rate—you're getting the right loan.
|
|
Tip of the Week
Schedule a plumber to inspect older homes for slow leaks — water damage is expensive and often hidden until it's serious.
|
|
Tips for Homeowners
Jumbo Loans: What They Are and How They Work
|
|
1.
|
A jumbo loan exceeds the conforming loan limit set by the FHFA — $766,550 in most areas for 2024, higher in designated high-cost markets. These loans can't be sold to Fannie Mae or Freddie Mac.
|
|
2.
|
Jumbo loans typically require stronger credit (often 700+), larger down payments (10–20%), and more cash reserves. Underwriting is more thorough and can take longer.
|
|
3.
|
Rates on jumbo loans are sometimes comparable to or even lower than conforming rates, depending on market conditions. Don't assume a jumbo loan means a worse deal — shop lenders.
|
|
|
Mortgage News Daily
New home sales fell sharply in July after a brief uptick in June, with builders facing the same headwinds that have plagued buyers all year: high mortgage rates and sky-high prices. Inventory levels climbed, but that hasn't eased the affordability crunch enough to revive buyer appetite.
| Key takeaway: if you're shopping for a new home, the cooling market may give you a bit more negotiating room than you had a few months ago. |
Read full article →
|
|
Mortgage News Daily
The number of signed contracts on existing homes dropped 2.3% in July and hit its lowest level since January 2026, according to the National Association of REALTORS. Elevated rates and record prices continue to push buyers to the sidelines.
| Key takeaway: fewer buyers in the market means less competition if you're ready to move—but also suggests rates may need to fall before activity truly picks up again. |
Read full article →
|
|
Mortgage News Daily
Despite the headwinds, existing-home sales stayed relatively steady in July, down only 1.7% from June and actually up 0.7% compared to July last year. This suggests that homeowners and buyers who can afford to move are still moving, even with rates where they are.
| Key takeaway: the overall market isn't collapsing—it's selective, rewarding sellers in strong neighborhoods while challenging those in softer areas. |
Read full article →
|
|
HousingWire
Reno's housing market gained 2.1% year-over-year through July, while Austin, Denver, and Phoenix all saw declines. The regional divide shows that location matters more than ever—some markets are thriving while others struggle.
| Key takeaway: if you're considering a move or refinance, research your specific market closely rather than assuming national trends apply to your area. |
Read full article →
|
|
Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Trey Camp team any time and we'll walk you through your options. |
|
|
|
5860 Baker Road Minnetonka, MN 55345, Individual NMLS# 1377038, Company NMLS# 891464 Equal Housing Opportunity
361.232.9117 | loansbytrey.com
You are receiving this from Edge Home Finance LLC. Unsubscribe
|
|
