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Mortgage Market Update
The Dendy Team
The Dendy Team
Tuesday, September 29, 2026
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New homes still cost less than resales in many U.S. markets |
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Welcome to your mortgage market update from The Dendy Team for Tuesday, September 29, 2026. This week we've rounded up the latest news from HousingWire and Mortgage News Daily 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 28, 2026
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Conventional 30-Year
6.81%
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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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First-Time Buyers
The Down Payment Myth That Keeps Buyers Renting
One of the biggest reasons people keep renting is the belief that you need 20% down to buy a home. You don't. Plenty of loan programs let qualified buyers get in with 3% to 5% down, and some — like VA and USDA loans — allow zero down for those who qualify. There are also down payment assistance programs that provide grants or low-cost second loans to help cover the upfront cost. The catch is that these programs vary by area and have limited funding, so it pays to know your options early. If you've been waiting to save a huge lump sum, you might already be closer to ready than you think. A short conversation can map out exactly what you'd need and which programs fit your situation.
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Tip of the Week
If you're self-employed, keeping clean financial records for two years makes mortgage qualification much smoother.
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Tips for Homeowners
Debt-to-Income Ratio: What Lenders Are Looking At
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1.
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Your debt-to-income ratio (DTI) compares your monthly debt payments to your gross monthly income. Most conventional loans require a DTI below 45%, with the best rates reserved for those under 36%.
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2.
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DTI has two parts: front-end (housing costs only ÷ income) and back-end (all debts ÷ income). Lenders focus on back-end DTI but both matter.
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3.
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Paying off installment loans or car loans before applying can meaningfully reduce your DTI. Even a small reduction can move you into a better rate tier or expand your purchase power.
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HousingWire
Zillow reports that new homes in July sold at $205 per square foot, compared with $212 for existing homes
| Key takeaway: Zillow reports that new homes in July sold at $205 per square foot, compared with $212 for existing homes |
Read full article →
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Mortgage News Daily
The new home market returned to the longer-term range last month, with sales seeing their 4th biggest rebound in 4 years. Sales of new single-family homes rose to a seasonally adjusted annual rate of 684,000 in August, up 6.4% from July's revised 643,000 but 2.0% below the same month last year. The increase puts sales back above the 600,000 mark after July's pullback, although the broader tr
| Key takeaway: The new home market returned to the longer-term range last month, with sales seeing their 4th biggest rebound in 4 years. |
Read full article →
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HousingWire
Builder expects 530 closings and $430 million revenue in 2026, with 304 net orders in the first half
| Key takeaway: Builder expects 530 closings and $430 million revenue in 2026, with 304 net orders in the first half |
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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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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