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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—here's what it means for you |
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Housing market signals are getting mixed, and we want to break down what's actually happening with prices, sales, and your chances of finding the right home. Here's what matters most to your wallet this week.
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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
New home sales dropped sharply in July after a stronger June, as buyers continue to struggle with high mortgage rates and steep prices. Builders are watching closely, and inventory is starting to pile up—a shift that could eventually work in buyers' favor if momentum continues to slow.
| Key takeaway: A buyer's market typically emerges when new home inventory climbs and sales weaken, so pay attention to these numbers if you're considering a purchase in the coming months. |
Read full article →
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Mortgage News Daily
Fewer signed contracts on existing homes in July signals that elevated mortgage rates and high prices are still weighing heavily on buyer demand. This marks the lowest level for pending sales since January 2026, showing the affordability crunch remains real.
| Key takeaway: Slower pending sales can mean less competition when you're house hunting, though rates need to move lower before buying truly becomes easier on the budget. |
Read full article →
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Mortgage News Daily
National home price indices show modest gains continuing, though the improvement is slow and not keeping pace with inflation. The real story is a growing regional divide—some markets are appreciating faster than others, so your local market matters more than ever.
| Key takeaway: Before buying or refinancing, check your specific region's price trends rather than relying on national numbers, since where you live makes a huge difference right now. |
Read full article →
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HousingWire
Reno is gaining ground with a 2.1% year-over-year home sales increase, while Austin, Denver, and Phoenix are all down. This shows that even in a sluggish national market, certain regions are holding their ground much better than others.
| Key takeaway: If you're considering a move or refinance, research your local market specifically—national headlines don't tell you whether you're in a buyer's or seller's market where you actually live. |
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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