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Mortgage Market Update
Erez Shimoni
Erez Shimoni
Thursday, September 3, 2026
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New home sales slip, but inventory is picking up |
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This week we're looking at what's really happening in the housing market right now — the ups and downs that affect your wallet. Here are the stories that matter most to you as a homebuyer or homeowner.
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National Mortgage Rates · August 27, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Smart Timing
The case for locking in when rates dip
Rate movements can feel random, but they follow real economic signals. When rates drop—even slightly—it creates a window of opportunity for borrowers who've been waiting or thinking about refinancing. The longer you wait, the less predictable the direction becomes. If you're on the fence about your current mortgage, a dip in rates is exactly when it makes sense to run the numbers. Even small rate improvements can add up to meaningful savings over the life of your loan. The key is acting decisively rather than hoping for a better deal that may never come.
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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.
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Tips for Homeowners
Jumbo Loans: What They Are and How They Work
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1.
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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.
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2.
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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.
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3.
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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.
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Mortgage News Daily
After a decent June, new home sales dropped sharply in July, though inventory levels are starting to climb. Builders are still dealing with the same headwinds you are: affordability challenges and mortgage rates that remain elevated. This slowdown tells us the market is still in flux, but more inventory could eventually give buyers more wiggle room.
| Key takeaway: More homes on the market might help ease affordability pressure as we head into fall. |
Read full article →
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Mortgage News Daily
National home price data shows modest gains recently, but the real story is that different parts of the country are moving in very different directions. While some markets are heating up, others are cooling down — which means your local market dynamics matter far more than national headlines. This regional divide is reshaping where it actually makes sense to buy right now.
| Key takeaway: Don't rely on national trends; focus on what's happening in your specific market and neighborhood. |
Read full article →
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Redfin
Inventory levels are climbing for the first time in years, giving shoppers genuine options after a long stretch of tight supply and bidding wars. This shift in the buyer's favor means you have time to be selective and negotiate — a refreshing change if you've been house hunting recently. More choices also mean less pressure to overpay out of desperation.
| Key takeaway: With more homes available, you can take your time and shop strategically rather than feeling forced to act fast. |
Read full article →
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Mortgage News Daily
Housing starts and construction completions dipped in July, suggesting builders are being cautious right now. However, building permits jumped, which is an early signal that construction activity may pick up in the coming months. This is encouraging if you're worried about future inventory — it hints at more homes being built down the road.
| Key takeaway: Permit increases suggest the worst of the construction slowdown may be behind us, pointing to better supply ahead. |
Read full article →
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Erez Shimoni team any time and we'll walk you through your options. |
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908-705-5882 | www.applywitherez.com
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