|
Mortgage Market Update
Erez Shimoni
Erez Shimoni
Thursday, August 20, 2026
|
Home sales holding steady despite high rates |
|
Even with mortgage rates elevated, the housing market is proving more resilient than you might expect. Here's what the latest data means for your timeline and budget.
|
|
National Mortgage Rates · August 13, 2026
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
| |
|
|
Smart Borrowing
When refinancing costs more than it saves
Not every refinance makes sense, even when rates move in your favor. The costs to close a new loan—appraisal, title, underwriting, and other fees—add up quickly. If you plan to sell or move within a few years, those closing costs may never pay back through your monthly savings. I always run the math with clients to find the break-even point: how long you'd need to stay in the home for the refinance to be worth it. Sometimes the answer is "not yet." Other times, it's "absolutely." The key is knowing which one applies to you before you apply.
|
|
Tip of the Week
If your credit score is below 740, even small improvements before applying for a mortgage can save you thousands over the life of the loan.
|
|
Tips for Homeowners
Weatherproofing Your Home Before Winter
|
|
1.
|
Clean your chimney if you have a fireplace. The National Fire Protection Association recommends annual inspection and cleaning to prevent chimney fires.
|
|
2.
|
Check attic insulation and ventilation before winter. Inadequate insulation leads to heat loss, higher energy bills, and ice dams on the roof that can cause significant damage.
|
|
3.
|
Inspect weatherstripping on all exterior doors. A simple dollar-bill test works: close the door on a bill — if you can pull it out easily, your weatherstripping needs replacing.
|
|
|
Mortgage News Daily
Existing-home sales dipped slightly in July but remain stronger than they were a year ago, showing that buyers are still active even with today's mortgage rates. The market has proven surprisingly steady, which suggests there's still demand out there—and opportunities for people ready to move.
| Key takeaway: if you've been waiting for the market to cool before buying, the stability you're seeing now might be as good as it gets in the near term. |
Read full article →
|
|
Mortgage News Daily
Home price appreciation picked up slightly in May, though growth still lags behind inflation nationwide. The gains are heavily skewed by certain regions, meaning your local market's performance might look very different from the national picture.
| Key takeaway: don't rely on national price trends—what matters for your wallet is what homes are actually selling for in your neighborhood. |
Read full article →
|
|
Mortgage News Daily
After a dip in May, new home sales rebounded in June as builders and buyers regained some momentum. However, sales are still below where they were a year ago, reflecting the ongoing weight of high rates and affordability challenges.
| Key takeaway: if you're considering a new construction home, there's been a slight uptick in activity, which may mean more negotiating room with builders. |
Read full article →
|
|
The Close
Housing inventory has climbed to its highest level since late 2019, yet the months-of-supply metric remains at 4.6 months, which still favors sellers. This tells you that while more homes are available, they're selling relatively quickly.
| Key takeaway: increased inventory is good news for your selection and negotiating power, but don't expect a full buyer's market anytime soon. |
Read full article →
|
|
Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Erez Shimoni team any time and we'll walk you through your options. |
|
|
|
908-705-5882 | www.applywitherez.com
You are receiving this from Erez Shimoni. Unsubscribe
|
|
