- 30-year fixed jumped to 6.81%, 15-year to 6.35%, a 3-week high after Fed Chair Warsh's hawkish Jackson Hole remarks (Mortgage News Daily, Aug 28).
- Waiting for a lower rate isn't free — rising prices can erase the savings. Use this week's Mortgage Strategy reframe with hesitant buyers.
- National Agent Mastermind returns Sept 15: "Built To Produce" with Jason Stratton — free, register now (agentanimals.com/samtimlick).
Tri-Cities Market Pulse
No new Fenley/CoreData release since last issue, so this week's real movement is on the rate side. The 30-year fixed jumped to 6.81% and the 15-year to 6.35% on August 28, per Mortgage News Daily — the highest level in three weeks. The move followed Fed Chair Warsh's Jackson Hole remarks doubling down on getting inflation back to the Fed's 2% target; bond markets read that as fewer near-term rate cuts, and mortgage rates followed within the day. It's still below the 54-year average of 7.73%, but the jump is enough that it's worth having a ready answer for any Tri-Cities buyer asking whether to lock now or wait — see this week's Mortgage Strategy section below.
Source: Mortgage News Daily rate index, August 28, 2026. Analysis by Sam Timlick, mortgage loan officer in Johnson City, TN.
Mortgage Strategy: The Talking Point for a Buyer Who Wants to Wait
Here's a line worth having ready for any buyer client who wants to sit out until rates drop: home prices historically don't wait for rates to fall — they tend to keep climbing regardless. If rates do drop meaningfully, expect a wave of buyers to come off the sidelines at once, the way we saw during the COVID years, which can push prices up fast and create real competition. A buyer could end up with a lower rate but a higher price and a similar (or bigger) monthly payment, plus a tougher negotiating environment. Buying now, at today's price and rate, and refinancing later if rates fall, is often the stronger position. It's a general market-dynamics point, not a promise about any one buyer's numbers — but it's a useful reframe when a client is stuck waiting on a headline that may not move the way they hope.
Quick FAQ
National Agent Mastermind: September 15, About Two Weeks Out
The National Agent Mastermind is back and confirmed for Tuesday, September 15 at 3:00 PM Eastern: Built To Produce: The Habits, Mindset & Strategies That Shape Your Identity & Success, with Jason Stratton drawing on more than 25 years in real estate. It's free, and I sponsor it every month because it's genuinely useful for agents building a business that holds up regardless of what the market's doing. Registration is at agentanimals.com/samtimlick — worth grabbing a spot now while it's about two weeks out.
Got Buyers Who Need Financing?
If you've got buyers who need financing — first-time, repeat, or anywhere in between — I'd love to work with them. I'll treat them like family, and I'll keep you in the loop the whole way. More on how I work with agents at samtimlick.com/for-agents.