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Thursday, September 3, 2026 |
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Mortgage Market Update
Why buyer demand is cooling off right now
We're seeing some real shifts in the housing market this month. Here's what's happening and what it means for your home buying plans.
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Loan Programs
More loan options than you might think
When you're shopping for a mortgage, it's easy to assume there's one standard path. In reality, you have choices—and the right program can make a real difference in your monthly payment and long-term costs. Some borrowers benefit from fixed-rate loans for predictability. Others prefer adjustable rates if they plan to move or refinance soon. Then there are specialized programs for first-time buyers, rural properties, or unique financial situations. The loan that works best depends on your timeline, risk tolerance, and goals. I'd love to walk you through what's available to you and help you understand the trade-offs of each option. Let's talk through which loan program might be the best fit for your situation.
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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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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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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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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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Signed contracts on existing homes fell 2.3% in July and hit their lowest level since early 2026. Elevated mortgage rates and record-high prices are keeping many buyers on the sidelines, and this slowdown in pending sales typically points to fewer actual closings in the months ahead.
| Key takeaway: If you've been waiting for a calmer market, the slowdown in buyer activity could mean less competition and more negotiating room in the coming months. |
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After a stronger June, new home sales fell sharply in July as buyers continued to struggle with affordability and mortgage rates. Builders are also holding more inventory than they did earlier in the summer, which could give you more options to choose from.
| Key takeaway: A slower new home market often means better pricing and incentives from builders—worth having conversations now if you're considering a new build. |
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Home prices are telling very different stories depending on where you live. Reno's market gained 2.1% year-over-year through July, while Austin dropped 5% and Denver fell 3.4%. Where you buy matters a lot right now.
| Key takeaway: If you're in a weakening market like Austin or Denver, you may have more leverage as a buyer; if you're in Reno or another appreciating area, prices are still climbing. |
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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 Dave Nuber team any time and we'll walk you through your options.
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33600 6th Ave S Suite 204 Federal Way, WA, 98003
(206) 227-6227
NMLS# 109013 · Company NMLS# 181106
Dave Nuber - Barrett Financial Group · Unsubscribe
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