Portland Mortgage Market Update — September 25, 2026

Rates took an absolute beating this week. The war in Iran and elevated oil prices still stoke fears of inflation, and treasury yields peaked to the highest levels in almost 20 years. There was some stronger than expected economic data released which was used by a Fed member as an excuse to double down on their fight against inflation, prompting the market to assume we are looking at another rate hike at the next meeting. The only reprieve we got came from Iran this morning when they offered to re-open the Strait of Hormuz by next week if the US rolls back to their previously agreed to Memorandum of Understanding, but it sounds like we aren't interested in doing so at this time. Bottom line, the rate that could have gotten on Monday now comes with a cost of 1.5 discount points, and things aren't looking like they will markedly improve anytime soon.

So, what can we do?

* Talk about the opportunity. NAR says that for every 1% increase in interest rate, about 5M potential homebuyers are priced out of the market. Those that are still able to buy have WAY less competition! There are out there for those that are interested! Fortune favors the bold! * Explore buyer leverage. Every buyer wants a deal, but in some cases a seller credit could be the best deal possible when compared to price concession. Paying $625K for a $650K home probably feels great! But at today's rates (assuming 7.25%) that nets a monthly payment of $3411/ month. If they paid full price and got a $25K concession towards a 3/2/1 buydown they would be paying $2634/month for the first year. That's a savings of almost $800 each month! * Focus on the monthly payment. Rates are cool and all, but when someone cuts their mortgage check each month they generally aren't focused on the percentage, they are focusing on how much is leaving their bank account. Let's explore ways (like this above buydown) to keep the monthly payment manageable for the buyer so they are insulated from these rate fluctuations. Buydowns, Interest Only, ARMS-- all of these are becoming more and more viable now and are excellent alternatives to the standard 30 yr fixed. * Get Creative! Let's connect and talk about how I can boost your open houses, convert renters into buyers, and drum up more business.

That's what I got for this week! I am around all weekend so feel free to reach out with any questions!

Mark RuhlLoan Officer, Mortgage Express NMLS 105591 (503)317-7620 mruhl@mtgxps.com www.markruhl.com 15115 SW Sequoia Parkway, Suite 100, Portland, OR 97224 teamruhl@mtgxps.comMortgage Express, LLC | NMLS Company ID: 40831 | www.mtgxps.com Licensed in OR, ID, WA, UT, CA, and AZ. Licensed in CA by the Department of Financial Protection and Innovation (DFPI) under the Residential Mortgage Act and in AZ under Mortgage Bankers License BK-1027601. This is not a commitment to lend. Loan products and amounts vary by location and are subject to credit and property approval per agency and investor guidelines. Rates, terms, and programs are subject to change without notice. Some loan products may be offered through lender partners of Mortgage Express, LLC.Additional restrictions may apply. For inquiries, contact customerservice@mtgxps.com or visit 15115 SW Sequoia Parkway, Suite 100, Portland, OR 97224. | NMLS Consumer Access Confidential: If you are not the intended recipient, please delete this email and notify the sender. Please scan attachments for viruses. Mortgage Express, LLC is not responsible for any damage caused by email-transmitted malware.