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Mortgage Market Update
Trey Camp
Edge Home Finance LLC
Thursday, September 3, 2026
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New home sales slip, but existing home market holds steady |
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This week brought mixed signals from the housing market—some segments weakening while others hang on. Here's what it means for your wallet and your timing.
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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.
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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
New home sales dropped sharply in July after gaining ground in June, as buyers continue to struggle with affordability and elevated mortgage rates. The slowdown signals that builders are facing real headwinds, even though inventory is climbing. If you've been waiting for more selection and potentially better negotiating power, this trend could eventually work in your favor.
| Key takeaway: A softer new home market often means more options and less builder urgency to rush you into a deal. |
Read full article →
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Mortgage News Daily
Signed contracts on existing homes fell 2.3% in July and hit their lowest point since January 2026, dragged down by high mortgage rates and record home prices. This is the clearest sign yet that buyer demand is cooling as affordability tightens. It's a reminder that the market is becoming more selective—and that timing your purchase matters.
| Key takeaway: Fewer pending sales usually mean less competition when you do decide to make an offer. |
Read full article →
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Mortgage News Daily
Sales of existing homes slipped only 1.7% from June and remained above last year's levels, showing surprising resilience despite mortgage rates staying elevated. While new home sales are struggling, people are still buying and selling existing homes at a steadier pace. This stability suggests the market isn't in free fall, even if things feel uncertain.
| Key takeaway: The existing home market is more stable than headlines suggest, which could mean steady opportunities for buyers and sellers. |
Read full article →
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Mortgage News Daily
National home price measures show modest gains, but the story varies dramatically by region—some areas are thriving while others are cooling. Inflation is still outpacing home value growth in most places, which affects how much buying power you have. Where you're looking to buy (or sell) matters more than ever right now.
| Key takeaway: Check the trends in your specific area—national averages can hide what's actually happening in your local market. |
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 Trey Camp team any time and we'll walk you through your options. |
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5860 Baker Road Minnetonka, MN 55345, Individual NMLS# 1377038, Company NMLS# 891464 Equal Housing Opportunity
361.232.9117 | loansbytrey.com
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