For the Week of 08/17/2026
Scroll For Market Update
Today's Mobile Rate Sheet
Conforming Loans (Up to $832,750)*
30-Yr Fixed: 6.75% | 6.88% APR
15-Yr Fixed: 6.0% | 6.2% APR
HomeReady 30-Yr Fixed: 6.75% | 7.19% APR
Government Loans*
FHA 30-Yr Fixed: 6.25% | 7.12% APR
VA 30-Yr Fixed: 6.25% | 6.367 APR
Portfolio Loans (Over $832,750)*
30-Yr Fixed: 6.375% | 6.48% APR
15-Yr Fixed: 6.325% | 6.45% APR
7-Yr ARM: 6.22 | 6.43% APR
Medical Professional Loans*
10-Yr ARM (0% Down): 6.5| 6.9 APR
7-Yr ARM (3% Down): 6.25% | 6.439% APR
Interest Only Construction Loans*
5-Yr ARM (20% Down): 6.0| 6.28% APR
What's Happened
Last week was packed with major economic releases, including CPI and PPI inflation data. The good news was that those reports largely met expectations, helping mortgage rates stabilize after a period of upward pressure. This week, we're seeing a continuation of that same theme: plenty of headlines, but only modest market movement.
The biggest driver to start the week wasn't economic data. Instead, geopolitical tensions in the Middle East pushed oil prices higher after reports involving Iran and activity in the Strait of Hormuz. Rising oil prices translated into slightly higher bond yields, which put mild upward pressure on mortgage rates. [mortgagene...sdaily.com], [mortgagene...sdaily.com]
As a result:
-Mortgage rates moved slightly higher Monday, with top-tier 30-year fixed rates averaging around 6.73%, up from last week's lows but still well below the recent peak of 6.85%. [mortgagene...sdaily.com]
-Treasury yields briefly challenged recent highs before investors stepped in and bought bonds, helping stabilize the market. [mortgagene...sdaily.com]
-Despite the headlines, we're still operating in essentially the same rate environment we've been discussing for several weeks. [mortgagene...sdaily.com], [mortgagene...sdaily.com]
The short version: rates ticked up, but nothing has fundamentally changed.
Austin's RE Pulse
Austin's housing market continues to show signs of healthy normalization, and July's numbers were quietly encouraging.
The biggest headline is that buyers are returning to the market despite mortgage rates remaining elevated. Across the Austin-Round Rock-San Marcos MSA, home sales increased 4.4% year-over-year and pending sales rose 4.1%, a strong indicator that buyer demand remains active heading into the fall market. [unlockmls.com]
At the same time, home prices remain remarkably stable. Median home prices across the metro increased just 1.0% year-over-year to $435,000, while the City of Austin saw median prices slip only 1.4% from a year ago. That tells us we're no longer seeing the rapid appreciation of the pandemic years, but we're also not seeing the widespread price declines that many buyers have been waiting for. [unlockmls.com]
Another trend worth watching is inventory. Active listings across the metro declined nearly 10% from last year, and months of inventory fell from 5.8 to 4.7 months. While buyers still have more options than they did a few years ago, inventory is gradually being absorbed as demand improves. [unlockmls.com]
What You Should Know
If you've been following these updates over the past few weeks, the biggest takeaway is that the market keeps getting opportunities to make a major move, but continues choosing stability instead
Last week, markets worked through CPI and PPI inflation reports. This week, attention shifted to geopolitical tensions, rising oil prices, and Treasury yields testing recent highs. Despite all of that, mortgage rates remain in essentially the same range they've occupied for most of August.
Meanwhile, Austin housing continues telling a surprisingly constructive story. Sales are up, pending contracts are up, inventory is gradually being absorbed, and prices are largely holding steady. Buyers haven't disappeared. Instead, many appear to be accepting that today's rate environment may be with us for a while and are moving forward when the right opportunity presents itself. [unlockmls.com]
My takeaway is simple:
The market is becoming increasingly comfortable with "higher for longer" rates.
For much of the past two years, many buyers were waiting for one of two things:
-A dramatic drop in mortgage rates
-A dramatic drop in home prices
Neither has materialized. Instead, we're seeing a gradual return to normal market conditions. Rates have stabilized, home prices have flattened, inventory remains healthier than it was during the boom years, and buyers have significantly more negotiating power than they had just a few years ago. [mortgagene...sdaily.com], [mortgagene...sdaily.com], [unlockmls.com]
*General Disclaimers
All loans subject to final credit approval. Terms and interest rates subject to change daily without notice. APRs computed using a standardized baseline of $1,693 fixed internal fees (Processing: $675, Underwriting: $670, Credit Report: $188, Doc Prep: $150, Flood Cert: $10) plus a 0.50% discount point. Equal Housing Lender. Rates are provided by Bank of Texas where George Light is licensed to originate mortgages.
Conforming Disclosures: Assumes 20% down on $750k loan, 780 FICO, SFR, primary residence, full escrows. HomeReady assumes 3% down on $300k purchase price ($291k loan) and includes an estimated $111.55/mo private mortgage insurance (0.46% annual factor). All options include $1,693 lender fees and 0.50% discount point.
Govt Disclosures: Assumes 5% down on $300k base loan, 780 FICO, SFR, primary residence. FHA includes 1.75% upfront financed MIP ($5,250) and $137.50/mo monthly MIP (0.55% factor). VA includes 1.50% upfront financed standard funding fee ($4,500) and $0 monthly MIP. Includes $1,693 lender fees and 0.50% discount point.
Portfolio Disclosures: Assumes 20% down, 1M loan, 780 FICO, SFR, primary residence, full escrows. 7-Yr ARM is a Bank of Texas Portfolio Loan. Includes $1,693 lender fees and 0.50% discount point.
Medical Pro Disclosures: Assumes $1M loan, 5% down, 780 FICO, SFR, primary residence, 30-yr payment schedule, NO monthly mortgage insurance. Includes $1,693 lender fees and 0.50% discount point.
G. Light Mortgage is a marketing site designed to provide relevant information to the real estate community. For Federal compliance and licensing information where George Light is licensed, go to www.bankoftexas.com/george-light. NMLS# 260410. All Rights Reserved.