Market Update | August 2026
Staying informed on market conditions is key for navigating the real estate journey. Here’s what you need to know…
Mortgage Rates
A Measured Rise — Mortgage rates moved modestly higher during July, with the average 30-year fixed-rate mortgage reaching 6.66% by the end of the month. While that’s up from recent weeks, rates remain slightly below where they were a year ago. Although many buyers were hoping for lower rates this summer, today’s market remains far more stable than the rapid swings seen over the past few years.
Freddie Mac Primary Mortgage Market Survey®. Rates based on 30-year fixed-rate mortgages.
Homes Prices
Pricing Meets Reality — Home prices remain relatively balanced nationally, but many sellers are entering the market with more realistic expectations than in recent years. As competition among listings increases, price reductions have become more common, particularly for entry-level homes. Sellers who price competitively from the beginning are finding success, while buyers have greater opportunities to negotiate than they’ve had in years.
Housing Supply
More to Explore — While new listings slowed during July as many homeowners remain reluctant to give up their existing low mortgage rates, there are still significantly more homes available than a year ago in many areas. That added supply is creating a healthier housing market, particularly for buyers.
Market Activity
Taking Their Time — Pending home sales and market activity slowed during July as higher mortgage rates and economic uncertainty prompted some buyers to press pause. For those still on the house hunt, that can create a window to secure seller concessions, benefit from price reductions, and make thoughtful decisions at their own pace.
Looking Ahead
Opportunity Looks Different Today — While affordability continues to be a challenge for many households, today’s market also offers advantages. During the pandemic, buyers often faced bidding wars, paid well over asking price, and waived inspections just to compete. Today, buyers are more likely to find price reductions, seller concessions, and the flexibility to buy on their own terms.
No one can perfectly predict where mortgage rates are headed, but waiting for the “perfect” rate may mean missing today’s opportunities. For buyers who are financially prepared, negotiating a better purchase price or seller concessions can often make a bigger difference than small changes in interest rates.
At Cambria Mortgage, we’re here to help you understand your financing options and build a strategy that fits your goals. Whether you’re buying your first home, building new, refinancing, or planning for the future, our team is ready to help you navigate today’s market with confidence.
Sources: Redfin, Realtor.com, Zillow, Zillow