Mortgage Rates

As of July 31, 2026

Conventional: 6.77%

FHA: 6.33%

VA: 6.34%

Mortgage Update by Mayra Stewart

The Federal Reserve met this week and kept rates the same. A few members wanted a hike, but most voted to hold steady. Inflation is still higher year over year, but the month over month numbers finally showed a little relief. Markets liked it, but they want to see more consistency before pricing in any big improvements.

Condo update:

If you’ve ever said “let’s just go conventional on this condo, it’ll be easier than FHA,” that’s about to change. Fannie Mae and Freddie Mac are tightening condo rules. Starting August 2, 2026, limited reviews go away and every conventional condo loan will need a full project review. Then on January 3, 2027, reserve requirements jump from 10 percent to 15 percent.

Even conventional condo financing will come with more regulation, so having a plan B matters. Non warrantable options can help keep deals moving when a project doesn’t meet the new guidelines.

Mayra Stewart
NMLS # 1854215