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Monthly Market Report  ·  September 2026

Rates Just Hit 7%.

Here's exactly what that means for you.

Hi friend,

I'll be honest with you — this month's update is one I've been watching closely, because the numbers are moving fast. As of this week, the 30-year mortgage rate crossed 7% for the first time in a while. And tomorrow, the Federal Reserve meets to decide whether to raise rates again.

I know that sounds scary. But I want to give you the full picture — because there's a lot more to this story than the headline number.

Where Things Stand This Week

The Numbers Right Now

Breaking It Down Simply

Why Did Rates Go Up — and Will They Come Back Down?

Here's the simple version: inflation is still running hotter than the Fed wants — around 3.7% — partly because of energy price shocks tied to global supply issues. When inflation stays high, the Fed's response is to raise interest rates to slow things down. That's what's pushing mortgage rates up right now.

Remember back in July when I said there was a 50/50 chance of a rate hike? The Fed held steady then — but now the expectation has shifted. A rate increase on September 16th is widely anticipated. That could push mortgage rates even higher in the short term.

Will rates eventually come down? Most experts still believe so — but the timeline keeps shifting. The honest answer is: nobody knows exactly when. What we do know is that every month you wait, you're rolling the dice on where they land.

And here's what most people miss: when rates do drop, the flood of buyers that comes back into the market drives prices up fast. So the "better deal" you're waiting for might not actually be a better deal at all.

So What Do You Do?

The Silver Lining You're Not Hearing About

Here's the thing the headlines aren't telling you: higher rates mean more negotiating power for buyers right now. Sellers know the buyer pool is smaller, so the motivated ones are stepping up with concessions — covering closing costs, buying down your rate, crediting repairs. That directly offsets the higher rate.

Catie's Local Pick

Currently Loving:
The Vig

Now that the weather is finally starting to cool down, there is no better place to be than the patio at The Vig. This place just hits different in the fall — great food, amazing cocktails, and a vibe that makes you want to linger for hours. It's one of those spots that works for everything — a casual lunch, a happy hour with friends, or a full dinner night out.

You'll find them in the Valley — go check it out and tell me what you think!

Have Questions About What This Means for You?

I'm always happy to talk through your specific situation — no pressure, no pitch. Just reach out and let's figure out the smartest move for you right now.

Catie McCauley

Your Real Estate Agent

catie@iconicht.com
(602) 781-0213

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