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Mortgage Market Update
Erez Shimoni
Erez Shimoni
Wednesday, September 16, 2026
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Mortgage Rates Are Likely to Stay High as Fed Hikes Rates and ... |
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Welcome to your mortgage market update from Erez Shimoni for Wednesday, September 16, 2026. This week we've rounded up the latest news from Redfin and HousingWire and Mortgage News Daily and The Close so you have everything you need in one place. Read on for the stories that matter most to homebuyers and homeowners right now.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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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Debt and Mortgages
Why your other debts matter when you apply
One thing that surprises a lot of borrowers is how much weight we give to credit cards, car loans, student loans, and other debts when we review a mortgage application. It's not just about whether you pay them—it's about how much you owe relative to your income. A high balance on a credit card, even one you pay on time, can reduce how much house you qualify for. The same goes for other monthly obligations. The good news is that paying down debt before you apply isn't just smart for your mortgage approval—it strengthens your financial position overall. If you're thinking about buying or refinancing soon, I'd recommend taking a closer look at what you owe beyond your mortgage.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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Redfin
Click the link below to read the full article.
| Key takeaway: Mortgage Rates Are Likely to Stay High as Fed Hikes Rates and Signals More to Come |
Read full article →
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HousingWire
Key factors for mortgage rates will be the Iran conflict and trade war, not just the economy
| Key takeaway: Key factors for mortgage rates will be the Iran conflict and trade war, not just the economy |
Read full article →
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Mortgage News Daily
Existing-home sales slipped in August, falling below the 4 million annualized pace for the first time since June 2025, while a sharp increase in inventory gave buyers more options and pushed the supply of homes to its highest level in more than a decade. The National Association of REALTORS® reported a 2.0% decline in sales from July to a seasonally adjusted annual rate of 3.98 million , while sal
| Key takeaway: Existing-home sales slipped in August, falling below the 4 million annualized pace for the first time since June 2025, while a sharp increase in inventory gave buyers more options and pushed the supply of homes to its highest level in more than a decade. |
Read full article →
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The Close
Gen Z agents are turning listing tours into TikTok skits, mixing comedy, pop culture, and short-form video to market homes and stand out online. The post Gen Z Agents Are Turning Listing Tours Into TikTok Skits appeared first on The Close .
| Key takeaway: Gen Z agents are turning listing tours into TikTok skits, mixing comedy, pop culture, and short-form video to market homes and stand out online. |
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 Erez Shimoni team any time and we'll walk you through your options. |
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908-705-5882 | www.applywitherez.com
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