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Mortgage Market Update
The Dendy Team
The Dendy Team
Thursday, September 3, 2026
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New home sales slip, but permits suggest builders are planning ahead |
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This week brought mixed signals from the housing market. While buyers and builders are both feeling the squeeze from rates and affordability, there are a few bright spots worth watching.
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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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Home Affordability
When rising costs make refinancing worth a look
If you've owned your home for a few years, your situation has probably changed. Maybe your property taxes went up, or your insurance costs climbed. Maybe you're paying PMI that you'd like to drop. These shifts don't always mean you need to refinance, but they're worth reviewing. A refinance can sometimes help you shed mortgage insurance faster, lock in a better rate if one opens up, or restructure your loan to fit where you are now rather than where you were five years ago. The goal is always the same: lower your total cost of borrowing, not just chase a rate number. Let's talk through what makes sense for your specific loan and timeline.
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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 strong June, new home sales dropped sharply in July as builders and buyers both hit the brakes. High mortgage rates and tight affordability continue to be the main culprits, leaving inventory climbing and sales momentum fading.
| Key takeaway: If you've been waiting for more selection and less competition, the new home market is starting to shift in your favor. |
Read full article →
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Mortgage News Daily
Construction starts fell 12.4% in July, showing builders are being cautious. However, the jump in building permits is a good sign that developers are planning for stronger activity ahead, which could mean more homes hitting the market soon.
| Key takeaway: A rise in permits today often means more inventory options and possibly better buyer conditions down the road. |
Read full article →
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Mortgage News Daily
Signed contracts on existing homes fell 2.3% in July and are at their lowest level since early 2026. Record-high home prices combined with elevated mortgage rates are making it harder for buyers to pull the trigger.
| Key takeaway: Less competition from other buyers could work in your favor if you're serious about making an offer now. |
Read full article →
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HousingWire
While housing markets in Austin, Denver, and Phoenix are struggling with year-over-year declines, Reno is showing a modest gain. This highlights how differently regional markets are performing right now based on local factors.
| Key takeaway: Your local market matters more than national headlines—talk to your real estate agent about what's actually happening in your area. |
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 The Dendy Team team any time and we'll walk you through your options. |
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230 Franklin Road, Bldg 2, Franklin, Tennessee, 37064
6154996335 | michaeldendy.com
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