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Mortgage Market Update
Erez Shimoni
Erez Shimoni
Sunday, September 20, 2026
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Nearly Half of Homebuyers Get Concessions From Sellers as Most... |
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Welcome to your mortgage market update from Erez Shimoni for Sunday, September 20, 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 17, 2026
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Conventional 30-Year
6.95%
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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
Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.
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Tips for Homeowners
USDA Loans: A Zero-Down Option for Rural Buyers
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USDA loans offer 100% financing (no down payment) for eligible properties in USDA-designated rural and suburban areas. The USDA's eligibility map may include areas closer to cities than you'd expect.
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USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.
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3.
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There's an upfront guarantee fee (1% of the loan) and an annual fee (0.35% of the balance). These are lower than FHA mortgage insurance and can be rolled into the loan.
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Redfin
Click the link below to read the full article.
| Key takeaway: Nearly Half of Homebuyers Get Concessions From Sellers as Most Markets Tip in Buyers’ Favor |
Read full article →
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HousingWire
Mortgage spreads, the Iran conflict and the economy are key
| Key takeaway: Mortgage spreads, the Iran conflict and the economy are key |
Read full article →
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Mortgage News Daily
Pending home sales edged higher in August as gains in the South and West offset declines in the Northeast and Midwest. The National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI), which tracks signed contracts on existing homes, increased 0.3% from July but was down 4.7% from a year earlier. The modest increase came despite another period of elevated mortgage rates. NAR Chief Econo
| Key takeaway: Pending home sales edged higher in August as gains in the South and West offset declines in the Northeast and Midwest. |
Read full article →
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The Close
Compare Gold Coast Real Estate School and Casa Academy in 2026, including pricing, course formats, exam prep, support, and which school fits you best. The post Gold Coast Real Estate School vs Casa Academy appeared first on The Close .
| Key takeaway: Compare Gold Coast Real Estate School and Casa Academy in 2026, including pricing, course formats, exam prep, support, and which school fits you best. |
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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