MORTGAGE BLOGBlog posted On May 21, 2026
Despite recent rate spikes, the housing market has remained surprisingly resilient. Pending home sales data are still trending positive year over year, even amidst economic uncertainty and global conflicts. As the summer home buying season heats up, this environment may present golden advantages for building or purchasing new construction homes.
A More Balanced Market Is Taking Shape
While affordability challenges still exist, today’s housing market looks very different from the fast-moving frenzy buyers experienced just a few years ago. Inventory levels have improved with competition cooling in many areas, and some sellers and builders are offering incentives to entice hesitant buyers.
According to HousingWire, weekly pending home sales recently climbed above 79,000 nationally, signaling that buyers are still active despite higher mortgage rates.
Building May Offer More Flexibility Right Now
Historically, newly constructed homes have carried a premium price, considering they have modern finishes, updated layouts, energy-efficient features, and newer materials. However, because of the current economy, builders are now more than ever looking to boost affordability for their potential buyers by providing buydowns and upgrade packages. HousingWire reported that new listings recently climbed back above 80,000 nationally, closer to pre-pandemic norms and a sign that builders are continuing to bring inventory to market.
Builders are offering incentives like:
The “Perfect” Market May Never Arrive
While mortgage rates briefly dipped below 6% earlier this year, they’ve largely remained in the mid-6% range for 30-year fixed-rate mortgages. This is the true cost of waiting. Refinancing programs (like Rate Rebound) offer borrowers the ability to refinance their loan if rates do drop, so you’re not locked in and committed eternally to a rate. This is why waiting for the “perfect” market isn’t a helpful strategy. The early buyer catches the home, as they say!
With our Rate Rebound program, you can refinance your loan if rates drop within 5 years, without paying lender fees.* With this program, you don’t have to wait to save, allowing you to take action now as a home buyer. This strategy also clears the way for you to consolidate high-interest debt, pay for major expenses like home improvement, college tuition, or a wedding!
Your Buying Opportunities Await
While today’s market still comes with challenges, buyers may finally be entering a more balanced environment with greater flexibility and new opportunities in the new construction space. For buyers who have been waiting on those tedious sidelines, this summer could be worth another look. Are you ready to hone in on some silver linings in the housing market this season?
Source: HousingWire, The New York Times, CAP, Mortgage News Daily
*CMG Home Loans will cover all customary lender fees, which are lender administrative fees, tax service fees, appraisal fee, and credit report fee. This offer does not cover discount points. Credit cannot exceed total fees. Rate Rebound is only valid on future conventional conforming, government, and jumbo loans in our retail channel (future Construction Loans, All in One, HELOCs, Bond, or HFA loans are excluded). Rate Rebound is only available on loans originated by CMG Home Loans. There may be additional restrictions based on investor. Offer may not be redeemed for cash or credit and is nontransferable. Offer cannot be retroactively applied to any loans. Offer may not be used with any other discounts, promotions, or interest-only/buy-down and second-lien products. This offer is subject to changes or cancellation at any time at the sole discretion of CMG Home Loans. Additional restrictions/conditions may apply. This is not a commitment to lend and is contingent on qualification per full underwriting guidelines. Program will be available on loans disclosed on or after 11/1/22. Program is applicable for refinances 6 months after closing up to 5 years from original note date and with a net tangible benefit which includes a rate reduction of 0.5%, going from an ARM to fixed rate, reducing loan term, movement to a more stable product, or a lower principal and interest payment. By refinancing the existing loan, the total finance charges may be higher over the life of the loan.
