Rick Veldman at Benchmark Mortgage

10/13/2026

There's been some talk about whether mortgage rates could climb to 9%. Here's some perspective. ⬇️ ⬇️

Getting there would take a rare mix of things, all lasting a full year: a booming economy with no slowdown in jobs, the Fed raising rates more than expected, and the conflict in Iran continuing to keep oil prices high.

That's an unlikely combination.

Don’t let it make you worry.

Have questions about mortgage rates?

Drop them in the comments or send a message.

I’m here to keep you informed so headlines don’t make your decisions for you.

10/10/2026

Half the buyers out there are scared home prices are about to crash. The other half are hoping they will.

A recent survey from Clever found 58% of Gen Z buyers are actually rooting for a crash, just so homeownership feels within reach.

So, what do the forecasts actually say?

Every quarter, Fannie Mae surveys more than 100 housing experts on where prices are headed. The newest results are in.

Click the link in the first comment to read now.

10/06/2026

There’s a lot to watch in housing and the broader economy right now. Here’s the latest update for buyers, sellers, and industry professionals.

NATIONAL MARKET UPDATE

Active inventory climbed 6.3% from last year, the strongest growth in at least six months. September inventory is now just 9.1% below pre-pandemic levels, giving buyers considerably more choice than they’ve had in recent years.

Mortgage demand has weakened as borrowing costs moved higher. MBA reports higher rates have weighed on application activity, showing that affordability is beginning to pull some buyers back to the sidelines.

Home prices are still growing nationally, but the market is becoming more balanced. At the same time, weaker builder confidence and slower new-home mortgage demand suggest sellers and builders may need to compete harder for today's buyers.

THIS WEEK'S FORECAST

FED TAKES CENTER STAGE

After Friday's weak jobs report, attention shifts back to the Federal Reserve this week. Minutes from the Fed's September meeting arrive Wednesday and could provide more insight into how policymakers are thinking about another increase.

With hiring slowing and recent inflation data showing some improvement, pressure for an immediate move has eased. For housing, a more patient Fed could help calm borrowing costs and give buyers more confidence heading deeper into the fall market.

REVIEW OF LAST WEEK

JOBS CHANGE THE OUTLOOK

Hiring slowed sharply in September, with the economy adding just 29,000 jobs and unemployment edging up to 4.2%. The weaker report reduced expectations for another immediate Fed hike—a potentially positive development for borrowing costs.

Inflation also offered some encouraging news. Core PCE inflation rose 3.0% from last year, while the three-month pace slowed to the Fed's 2% target for the first time in more than two years. That gives the Fed more flexibility before its October meeting.

Despite softer hiring, the broader economy continues to hold up. Consumer spending remained strong, second-quarter economic growth was revised higher, and manufacturing activity continued expanding, suggesting the slowdown in hiring hasn't spread across the economy.

The week ended with the Dow down 1.3%, to 51,177; the S&P 500 down 0.3%, to 7,723; and the Nasdaq up 0.5%, to 27,191.

More inventory is creating opportunities for buyers who remain active. Asking prices are 1.4% below last year, while homes are moving two days faster—evidence that well-priced properties can still attract buyers in today's market.

DID YOU KNOW

More than one in five listings had a price cut in September—the highest share for any month since October 2022. That's another sign sellers are adjusting to today's buyers and competing more aggressively for their attention.

FEDERAL RESERVE WATCH

Forecasting Federal Reserve policy changes in coming months. The outlook changed significantly after softer inflation and employment data reduced the urgency for another increase. Note: In the lower chart, the 21.6% probability of change means there’s a 78.4% probability the rate will stay the same.

Current rate is 3.75%-4.00%.

Not sure where to start with your real estate goal? Visit my website to schedule a call, get pre-approved, or read my blog.

10/03/2026

Does one size ever really fit all? 🤔 One mortgage rate doesn't either. You may be seeing today’s higher rates and worrying about whether it’s still worth it to buy. Here’s what you need to realize…

Mortgage rates differ just like the people who apply for loans. So, the rate you see online isn’t necessarily the one you’d get when you buy.

Your real mortgage rate is specific to your individual situation. It can be higher or lower than what you've seen or heard.

So, don’t assume the rate in the headlines is your rate. Before you decide you can't buy a home or that you should wait, find out what your real rate is. You'll know what your options are and get a map to what's possible.

And a quick conversation with a loan officer is the perfect place to start.

To explore this topic more, read my blog post called "The Mortgage Rate You See Online Isn’t Necessarily the One You’d Get." Simply click the first comment below.

09/29/2026

There’s a lot for buyers, sellers, and industry professionals to watch as we head into a new week. Here’s the latest look at what’s happening in housing and the broader market.

NATIONAL MARKET UPDATE

Active inventory climbed 5.8% from last year and topped 1.17 million homes, remaining near its highest level since 2019. More choices and softer asking prices continue to give fall buyers additional negotiating room.

Rising mortgage rates are beginning to weigh more heavily on application activity. With borrowing costs now above 7%, affordability is again becoming a bigger obstacle for buyers who had remained active through the summer.

New-home sales rebounded in August despite higher mortgage rates. Builders are still finding buyers in today's tougher financing environment, although weaker builder confidence suggests the industry remains cautious about demand heading into fall.

THIS WEEK'S FORECAST

JOBS MOVE RATES...

This week's employment data could have a direct impact on where mortgage rates go next. With Treasury yields already elevated and the Fed focused on inflation, signs of a still-strong labor market could reinforce expectations for additional rate increases and keep borrowing costs under pressure. A cooler jobs picture could provide some relief.

For Realtors, the key question is whether rates can stabilize enough to let improving inventory, softer prices and greater negotiating room translate into more fall transactions. The backdrop entering the week is especially important because the 10-year Treasury reached 5.20% last week and the Fed has already signaled the possibility of additional tightening.

REVIEW OF LAST WEEK

YIELDS PUSH HIGHER...

Treasury yields surged as inflation and stronger economic growth pressured bond markets. The 10-year Treasury briefly hit 5.20%, adding pressure to mortgage rates.

Oil and inflation remained a problem, while stronger economic activity also pushed yields higher. For housing, that makes it harder for mortgage rates to move meaningfully lower even as buyers gain leverage on home prices.

Housing still showed some resilience. Homes sold slightly faster than a year ago even with mortgage rates approaching 7%, while new listings remained roughly even with last year. That suggests the buyers and sellers still participating are finding ways to make transactions work.

The week ended with the Dow up 0.3%, to 51,829; the S&P 500 up 1.2%, to 7,743; and the Nasdaq up 2.1%, to 27,069.

More homes are sitting on the market, giving buyers additional choices heading into fall. With inventory above 1.17 million and asking prices slightly below last year, buyers have more room to be selective and negotiate.

DID YOU KNOW...

The typical home sold one day faster than a year ago despite today's substantially higher mortgage-rate environment. That's a small but encouraging sign that serious buyers haven't disappeared—they're simply becoming more selective.

FEDERAL RESERVE WATCH

Forecasting Federal Reserve policy changes in coming months. The Fed raised rates earlier this month and has signaled that another increase remains possible this year. Note: In the lower chart, the 68.1% probability of change means there’s a 31.9% probability the rate will stay the same. Current rate is 3.75%-4.00%.

09/25/2026

Mortgage rates have been climbing again, and if you're hoping to buy, that can feel discouraging.

Here’s what you have to remember.

You can't control where rates go. But you can control a few things that shape the rate you actually get: your credit score, the type and term of loan you choose, and whether you buy a newly built home, where builders are often buying down rates to bring buyers in.

Focus there, and you put yourself in a stronger spot without waiting on the market.

Want to talk it through? A trusted lender can help with the numbers, and we can find the home to match. Let's connect.

09/22/2026

There’s a lot shifting in the market right now. Here’s what buyers, sellers, and industry professionals should be watching this week.

NATIONAL MARKET UPDATE

Active inventory climbed 5.0% from last year and remains near its highest level since 2019. More homes to choose from, combined with softer asking prices, continue to give fall buyers additional negotiating power.

Homeowner equity reached more than $34.9 trillion in the second quarter. Despite affordability challenges for buyers, substantial homeowner equity continues to give many existing owners financial flexibility when considering their next move.

New construction is slowing as builders respond to softer demand and elevated inventory. Higher mortgage rates are making buyers more cautious, which could keep builders focused on incentives rather than aggressively adding new supply.

THIS WEEK'S FORECAST

HOUSING TAKES CENTER STAGE...

This week’s housing data will give us a better look at how buyers are responding to mortgage rates near 7%. New-home sales will be especially important as builders continue using incentives to make payments more manageable.

Stronger sales could show buyers are adjusting to higher borrowing costs, while weaker demand would reinforce the affordability challenges facing the market. For Realtors, the bigger question is whether today’s increased inventory and negotiating room are enough to keep buyers active heading into fall.

REVIEW OF LAST WEEK

FED RAISES RATES...

The Federal Reserve raised its benchmark rate by 0.25% to 3.75%–4.00%, its first increase in three years. The move was widely expected, but the possibility of another hike this year kept pressure on borrowing costs.

Mortgage rates felt that pressure quickly. The average 30-year fixed rate jumped from 6.76% to 6.95%, the highest since January 2025, making monthly payments more expensive for buyers already navigating elevated home prices.

Housing still offered buyers some leverage. Inventory remained elevated, asking prices stayed below last year's level, and homes sold faster than a year ago, suggesting motivated buyers are still finding opportunities despite higher rates.

The week ended with the Dow down 1.6%, to 52,573; the S&P 500 down 0.8%, to 7,657; and the Nasdaq down 0.7%, to 26,333.

The 10-year Treasury yield reached 5% Friday, adding pressure to mortgage rates. Until longer-term yields ease, financing costs are likely to remain one of the biggest hurdles facing buyers this fall.

DID YOU KNOW...

Pending home sales actually increased 0.3% in August despite elevated mortgage rates. Contract activity remains below last year, but the small gain shows that some buyers are still moving forward when the right opportunity appears.

FEDERAL RESERVE WATCH

Forecasting Federal Reserve policy changes in coming months. TThe Fed raised rates to 3.75%–4.00% last week and signaled that another increase could come before year-end. Note: In the lower chart, the 53.1% probability of change means there’s a 46.9% probability the rate will stay the same.

Current rate is 3.75%-4.00%.

09/19/2026

New season, new guides. If you're thinking about buying or selling before the year wraps, the new Fall Buyer & Seller Guides are your cheat sheet.

They'll show you where the market stands now, what's ahead for the rest of 2026, and how to make a smart move heading into year-end.

09/15/2026

Here's a quick recap of last month's Grand Rapids housing stats. Whether you're buying or selling, the numbers are worth two minutes.

Questions about where the market's headed? Send me a message.

P.S. Curious about another city? Open the video and switch locations in the drop-down menu.

https://usherpa.com/loanofficer/membercontent/localhousingvideo/abcec3b8-d6f9-4254-956a-3515e82c11ca?msaLocationId=64

A monthly video email that gives housing statistics by geographical area.