Troy’s bottom line

Mortgage rates moved higher last week, and this morning’s Treasury market signals additional pressure. Freddie Mac’s weekly 30-year average reached 6.76%, while a real-time national tracker ended Friday above 7%. The 10-year Treasury briefly crossed 5% this morning.

For Denver buyers, the opportunity is negotiating the financing—not waiting indefinitely for rates. Seller credits, permanent or temporary buydowns, and closing-cost assistance can be especially valuable on attached, stale or recently reduced listings.

Rates, inflation and MBS

Verified facts

• Freddie Mac’s 30-year fixed average increased to 6.76% on September 10, from 6.71%. The 15-year rose to 6.09%. This weekly average may lag today’s lender pricing. Freddie Mac PMMS
• Mortgage News Daily ended September 11 at approximately 7.12% for a conventional 30-year fixed, 6.68% FHA, 6.70% VA and 7.25% jumbo. These are national market indicators—not individual borrower quotes. Mortgage News Daily
• The 10-year Treasury finished Friday near 4.97% and briefly crossed 5% Monday morning. Treasury market data
• Agency MBS weakened Friday, with the UMBS 5.5% coupon down approximately 14/32. The broader S&P U.S. MBS Index was down 1.45% month to date through September 11. MBS market data, S&P MBS Index
• August CPI increased 0.4% monthly and 3.4% annually. Core CPI rose 0.3% monthly and 2.4% annually. Energy rose 2.1%, including a 3.9% gasoline increase. BLS CPI report
• August producer prices increased 0.4% monthly and 5.4% annually. BLS PPI report
• August payrolls increased 162,000, unemployment remained 4.1%, and labor-force participation edged up to 61.6%. BLS employment report

Interpretation

Core consumer inflation improved annually, but monthly CPI, producer prices and energy costs were hotter. Meanwhile, stronger employment reduced pressure on the Fed to support the economy.

Lock strategy: Borrowers closing within 30 days should be defensive. If the payment works, locking before Wednesday’s Fed decision removes significant event risk. Floating through the announcement is a calculated gamble.

Program and underwriting changes

Fannie Mae expands VantageScore 4.0

Effective September 9, all Fannie Mae-approved lenders may use VantageScore 4.0 for eligible DU loans without prior written approval.

Key limitations:

• Adoption is optional, so not every lender will offer it immediately.
• The same scoring model must be used for every borrower.
• VantageScore 4.0 must be obtained from all three repositories.
• Manual underwriting still requires Classic FICO.
• FICO 10T is not currently eligible.

Fannie Mae LL-2026-06

Borrower strategy: For certain borrowers with newer or limited credit patterns, VantageScore may eventually produce a different result. Run the option where available—but don’t promise that it will improve qualification or pricing.

FHA announces its timeline

FHA announced that VantageScore 4.0 and FICO 10T will become eligible beginning January 1, 2027. Classic FICO remains the current FHA standard until implementation. FHA INFO announcements

No material new update: No consequential VA, USDA, jumbo, non-QM or conforming-limit change was identified this week.

CHFA and Colorado assistance

CHFA clarified Schools To Home requirements:

• The borrower must be a full-time employee of an eligible Colorado public-school employer.
• There is no minimum employment-tenure requirement.
• Assistance may reach 25% of the first mortgage.
• The deferred second includes shared appreciation.
• A financial-commitment course is required.

CHFA Schools To Home

No new general CHFA eligibility or assistance-amount change was identified.

Denver-metro housing signals

August 2026 signal	Result
Active listings	13,211
New listings	4,892
Pending listings	3,341
Closed listings	3,118
Median closed price	$595,000
Median days in MLS	29
Available inventory	18 weeks

Compared with August 2025:

• New listings increased 4%.
• Pending sales fell 7%.
• Closings fell 13%.
• Median prices were essentially unchanged.
• Active inventory declined approximately 2%.

Compared with July, closings fell 15%, median prices declined 2%, and market time increased from 22 to 29 days. REcolorado August report

Property type matters:

• Detached inventory fell 4.21% annually.
• Attached inventory increased 9.94%.
• Attached properties took a median 45 days, versus 24 for detached.
• Attached median prices declined 4.87% annually.

DMAR August report

Buyer-leverage interpretation

The strongest targets for concessions are:

• Condos and townhomes
• Listings exceeding 30 market days
• Recently reduced properties
• Homes needing cosmetic improvements
• Sellers facing firm relocation or closing deadlines

The reports reviewed did not publish an updated August concession percentage, so an older concession statistic should not be presented as current.

What to watch this week

• September 15–16: Fed meeting, policy announcement and updated economic projections. Federal Reserve calendar
• September 16: August retail sales before the Fed announcement.
• September 17: Housing starts, building permits and unemployment claims. Census calendar
• Daily: Oil prices and the 10-year Treasury. With the Treasury near 5%, lender pricing can change quickly.