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Mortgage Market Update
Jennifer Clemens
Clemens Mortgage Group, LLC
Friday, September 25, 2026
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You probably don't need 20% down |
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A Note From Jennifer Clemens
Happy Friday! 😎
Mortgage rates saw some pressure this week as markets reacted to ongoing global tensions and economic uncertainty. This afternoon, bond markets sold off after the Trump/Xi summit wrapped up with little progress toward easing concerns overseas, pushing Treasury yields to their highest levels since May 2025.
Temporary rate buy-downs continue to be a hot topic and help buyer's ease into their mortgage payment. Seller concessions, rate buy downs, bridge loans and strategy conversations can make a huge difference.
Also - We can now offer VantageScore options on certain loan programs in addition to traditional FICO scoring. This could be a game changer for some buyers and may even help save deals that previously may not have qualified. 🙌
If you need help running numbers or navigating a tricky scenario, I’m always just a text away!
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The 20%-down rule keeps a lot of would-be buyers renting — and it's mostly a myth. Here's the real picture.
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National Mortgage Rates · September 24, 2026
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Conventional 30-Year
7.03%
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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First-Time Buyers
The Down Payment Myth That Keeps Buyers Renting
One of the biggest reasons people keep renting is the belief that you need 20% down to buy a home. You don't. Plenty of loan programs let qualified buyers get in with 3% to 5% down, and some — like VA and USDA loans — allow zero down for those who qualify. There are also down payment assistance programs that provide grants or low-cost second loans to help cover the upfront cost. The catch is that these programs vary by area and have limited funding, so it pays to know your options early. If you've been waiting to save a huge lump sum, you might already be closer to ready than you think. A short conversation can map out exactly what you'd need and which programs fit your situation.
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Tip of the Week
If you're self-employed, keeping clean financial records for two years makes mortgage qualification much smoother.
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Tips for Homeowners
Debt-to-Income Ratio: What Lenders Are Looking At
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1.
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Your debt-to-income ratio (DTI) compares your monthly debt payments to your gross monthly income. Most conventional loans require a DTI below 45%, with the best rates reserved for those under 36%.
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2.
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DTI has two parts: front-end (housing costs only ÷ income) and back-end (all debts ÷ income). Lenders focus on back-end DTI but both matter.
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3.
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Paying off installment loans or car loans before applying can meaningfully reduce your DTI. Even a small reduction can move you into a better rate tier or expand your purchase power.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Jennifer Clemens team any time and we'll walk you through your options. |
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602-214-9048 | https://clemensmortgagegroup.com/
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