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Thursday, September 3, 2026 |
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Mortgage Market Update
New home sales stumble as affordability pinches buyers
We're seeing some real shifts in the housing market this summer, and they're worth paying attention to. Here's what the latest data tells us about what's ahead for buyers and sellers.
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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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After a stronger June, new home sales fell significantly in July while inventory climbed. Buyers are still wrestling with high mortgage rates and prices that stretch their budgets, making it harder for builders to move homes off the lot.
| Key takeaway: If you're shopping for a new home, the softer demand may give you more negotiating room than you'd have in a hot market. |
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Signed contracts on existing homes dropped 2.3% last month and are down compared to a year ago, hitting the lowest level since early 2026. Elevated rates and record prices continue to push buyers to the sidelines.
| Key takeaway: A slowdown in contract signings typically shows up in actual sales data a month or two later, so expect listing inventory to keep building as fewer deals close. |
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While Phoenix, Denver, and Austin are seeing home prices fall, Reno's market is holding steady with a 2.1% year-over-year gain. Geography still matters enormously—where you buy can mean the difference between appreciation and decline.
| Key takeaway: Before buying or refinancing, look at your specific region's trends, not just the national headlines, since local markets can move in opposite directions. |
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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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