Portland Mortgage Market Update — June 12, 2026

Ahhh, Summer is finally here in Portland! I hope you had a good end to the school year and get a chance to enjoy the sun this weekend. Here is this week's market update:

It was inflation week! And to the surprise of no one's pocketbook, inflation is still heating up. Consumer inflation jumped to 4.2% year-over-year (the highest reading in 3 yrs) but when you strip out food and energy it was a moderate 2.9% increase. So the bulk of the high reading was coming from increased gas/oil prices, and while those higher fuel prices are leaching into other sectors, the market looked past the headline number and are pushing the odds of a Fed rate hike further into the future. Probably because they anticipate fuel prices to drop once the conflict in Iran resolves.

Speaking of which, it was a wild week in Iran that had major implications on the market. President Trump went from threatening to take over Karg Island at one point to saying we are likely to draw down the war with Iran coming to terms this weekend. Now, we have heard this story before (38 times according to CNN), but sources close to the talks are confirming that it might actually be happening this time. It is reported that the resolution is primarily based on ending the war, reopening the Strait of Hormuz, and ironing out the rest of the details within 60 days. So time will tell how this will play out in the coming months, but yesterday markets rallied on the news and rates are trending towards improving

NEW PRODUCT ALERT! Your clients can now buy with CASH! We just signed on a new lender that will provide a proof of funds letter that operates just like a cash offer BEFORE selling their current home so there is no contingency. If you have any files that have fallen apart recently due to DTI issues, call me! And this isn't just for buyers that have a home contingency—if you have a self-employed borrower that needs a little more time on the job, we can send this out and wait for them to get a little more "seasoning" on their own. Be sure to check the email I sent out yesterday for more information.