The Hamm Team

40+ Years of Experience
Rick Hamm(NMLS #187346)
Zach Pomeroy(NMLS #1626734)
Nyk Harper(NMLS #2142116)
Equal Housing Lender

08/28/2026

Mortgage Rates Hold Fairly Steady

Market Update | August 28th, 2026

Mortgage rates changed little this week averaging 6.66%. The economy remains resilient, demonstrated by steady consumer spending and rising household incomes. More homes coming on the market and slower price growth in many areas are giving buyers better options and helping create a more balanced housing market.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily. More context here: https://www.mortgagenewsdaily.com/

08/21/2026

Mortgage Rates Relatively Unchanged

Market Update | August 21st, 2026

Treasury yields serve as an almost perfect proxy for intraday rate movement with 10yr yields often seen as the most common at-a-glance benchmark for mortgage rate movement (i.e. they tend to move in the same direction by roughly similar amounts). Throughout the week, the 10yr yields have increased slightly and mortgage rates followed that movement, though only slightly.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily. More context here: https://www.mortgagenewsdaily.com/

08/14/2026

Mortgage Rates Move Down Slightly

Market Update | August 14th, 2026

Rates are driven by bonds and bonds are highly responsive to the outlook for inflation and the economy. The Iran war caused inflation implications to spike and the periodic relief in fuel prices has coincided with bond market improvement (and lower rates).

The official inflation data is just another form of the same benefit. Fuel prices are just one aspect of inflation--albeit a critical one, but they're more of a leading indicator. In contrast, big government data like PPI (Producer Price Index) and CPI (Consumer Price Index) help the market more accurately measure the true impact of fuel prices.

PPI was only slightly lower than expected, but that was enough to account for improvement in rates.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily. More context here: https://www.mortgagenewsdaily.com/

08/07/2026

Mortgage Rates Still Creeping Up

Market Update | August 7th, 2026

Mortgage rates rose modestly, with multiple lenders making adjustments in response to bond market volatility. Bonds remain highly attuned to war-related developments and the impact on oil prices which, in turn, have a bearing on inflation implications.

Higher inflation begets higher interest rates, all else equal.

In addition to the oil/inflation narrative, bonds also came under some pressure as Alphabet announced a large corporate bond offering. Like anything in the market, bond prices change in response to supply and demand. If a big corporate bond competes for investor demand, it can indirectly lower the demand for the bonds that underlie mortgage rates. When bond prices fall, rates rise.

The good news is that the adjustment is very small in the bigger picture.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily. More context here: https://www.mortgagenewsdaily.com/

07/31/2026

Mortgage Rates Continue To Climb

Market Update | July 31st, 2026

Here is a quick note on the weekly rate chart referenced in this market update. The chart from Freddie Mac, tracks the average rates across the US market. These are actual rate locks borrowers have secured.

What the chart does not accurately report is the what borrowers paid to get those rates, the rate buydown in points, that make up the average. Additionally, there is also a geographic component to rate offerings where rates may be higher or lower than the average depending on where the borrower is doing business. Other factors that make up rate offerings include the borrowers credit profile and down payment amount.

So, if the average rate shown in the chart appears higher or lower than your current market, be aware that there are additional factors at work which dictate rates.

One of best uses of this chart is to note the trend, up or down, that rates are moving. This can be an indicator of future rate offerings.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily You can view the full article for more context here: https://www.mortgagenewsdaily.com/

07/24/2026

Rates Increased This Week, But There Is Hope...

Market Update | July 24th, 2026

Mortgage rates moved higher the week. Steady weakness throughout the month of July resulted in rates matching the highest level in nearly a year.

In other words, it wouldn't have taken much of an additional jump for this weeks rates to be the highest in more than a year.

But here's the silver lining: July 2025 through February 2026 was unequivocally the best run we've had in the mortgage world since rates began their rapid ascent in 2022. The time frame was marked by steady declines and low volatility relative to the previous few years.

Bottom line: being "the highest in more than a year" says more about the past year than it does about the actual rate level. It is not ideal, but also not the end of the world. And if peace finds a way to break out again, June serves as a proof of concept that rates can respond favorably.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily You can view the full article for more context here: https://www.mortgagenewsdaily.com/

07/10/2026

Rates Make A Modest Recovery

Market Update | July 10th, 2026

Mortgage rates were rapidly approaching 10-month highs as of mid-week. They managed a friendly bounce toward the end of the week, but it was fairly small with the average lender dropping 0.03% for a top-tier 30yr fixed scenario.

One reason for caution is that the rate improvement looks to be dependent on oil price volatility after this week's resurgence in U.S./Iran tensions. In general, lower oil prices imply lower inflation pressure, and lower rates. This isn't always the case, but there are times where oil prices and rates are clearly correlated.

In the bigger picture, rates are drifting sideways in a narrow range near 10-month highs as they wait for more concrete inspiration.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily You can view the full article for more context here: https://www.mortgagenewsdaily.com/

07/03/2026

Employment Reports Shape Rate Offerings

Market Update | July 3rd, 2026

The jobs report (officially "The Employment Situation") measures new jobs created (or lost) each month in addition to the unemployment rate. The job count was much weaker than expected and, although the unemployment rate technically dropped, it did so for the wrong reasons (fewer people considered themselves part of the workforce). In fact, if we adjust for labor force participation, unemployment actually moved higher.

The jobs report is the most important economic data as far as bonds are concerned. And because bonds dictate rates, there's a clear connection to the mortgage world. Weaker jobs data = lower rates.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily You can view the full article for more context here: https://www.mortgagenewsdaily.com/

06/26/2026

Mortgage Rates Hold Relatively Steady

Market Update | June 26th, 2026

The average 30-year fixed mortgage rate was little changed this week at 6.49%. Rates have remained relatively stable over the last six weeks. Meanwhile, purchase activity eased modestly and refinance activity has continued to pick up recently, reflecting borrowers’ responsiveness to current rate levels.

The 30-year fixed-rate mortgage averaged 6.49% as of June 25, 2026, up from last week when it averaged 6.47%. A year ago at this time, the 30-year FRM averaged 6.77%.

The 15-year fixed-rate mortgage averaged 5.84%, up from last week when it averaged 5.81%. A year ago at this time, the 15-year FRM averaged 5.89%.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily You can view the full article for more context here: https://www.mortgagenewsdaily.com/

06/19/2026

Mortgage Rates Inch Down

Market Update | June 19th, 2026

The 30-year fixed-rate mortgage decreased this week averaging 6.47%. Incoming data continues to reflect a resilient consumer, with retail sales improving and pending home sales strengthening, suggesting purchase demand is continuing to modestly improve.

Chart provided by Freddie Mac. You can view the chart for more context here: https://www.freddiemac.com/pmms

Information provided by Mortgage News Daily You can view the full article for more context here: https://www.mortgagenewsdaily.com/

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