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Mortgage Market Update
Scott Munds
Promise Home Loans
Wednesday, August 19, 2026
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What buyers really want (and it's changing) |
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A Note From Scott Munds
A Quick Note from Scott
Thanks for staying connected. I appreciate being able to keep you informed and be a resource whenever you need one. My goal is simple: provide helpful information and keep you informed about the market.
Whether you're thinking about buying, refinancing, or simply keeping an eye on the market, I'm always here as a resource. I appreciate your trust, your referrals, and the opportunity to be part of your journey — Scott
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This week we're looking at what's actually moving the market — from the features that make homes fly off the shelf to where mortgage rates are heading. Here's what matters for your wallet.
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National Mortgage Rates · August 13, 2026
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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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Smart Prepayment
What happens when you pay extra on your mortgage
A lot of homeowners ask me: if I send in an extra payment or a lump sum, where does that money go? The answer matters. When you pay above your regular monthly amount, that extra typically goes straight to principal—the amount you actually owe—rather than toward future interest. This means you're building equity faster and shortening your loan timeline. Over time, even modest extra payments can save you years and a lot of money in interest. Of course, before you commit to higher payments, make sure your budget can handle it comfortably. If you're curious whether prepayment makes sense for your situation, I'd love to walk through the numbers with you.
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Tip of the Week
Inspect your attic insulation. Proper insulation reduces heating and cooling costs and can prevent ice dams on your roof.
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Tips for Homeowners
Fall Home Prep: Heating, Safety & Systems
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1.
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Have your heating system serviced before it's needed. A furnace failure in winter is an emergency — routine maintenance costs far less than emergency repairs.
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2.
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Test smoke detectors and carbon monoxide detectors and replace batteries. Carbon monoxide poisoning risk rises when heating systems run more frequently.
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3.
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Drain and shut off exterior faucets and sprinkler systems before the first freeze to prevent burst pipes — one of the most expensive and disruptive homeowner emergencies.
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Keeping Current Matters
Spare bedrooms, finished basements with separate entrances, and bonus rooms are no longer just nice-to-haves — they're now deal-makers for a growing number of buyers. If your home has flexible extra space, you may have a real advantage when it comes time to sell or attract serious offers.
| Key takeaway: homes with adaptable multi-purpose rooms are commanding buyer attention and potentially higher offers in today's market. |
Read full article →
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Keeping Current Matters
If you've been holding out hoping mortgage rates will drop significantly before you buy, it's worth reconsidering your timeline. Understanding what's actually driving rates right now can help you decide whether waiting makes sense for your situation or if it's better to move forward sooner.
| Key takeaway: big rate drops aren't guaranteed soon, so waiting on the sidelines could mean missing out on homes and locking in today's prices. |
Read full article →
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Keeping Current Matters
Both buyers and sellers are asking the same question: can I still get a good deal? The answer depends on your local market, your timing, and what you're willing to do. We break down where the real leverage sits right now.
| Key takeaway: understanding your local market conditions is more important than ever for getting the best outcome, whether you're buying or selling. |
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 Scott Munds team any time and we'll walk you through your options. |
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5 Centerpointe Dr #400 Lake Oswego OR 97035
(503) 969-9929 | https://scottmunds.com/
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