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Denver Metro Market Update
What the Same Payment Buys at 7%
September 10, 2026
The average 30-year fixed rate reached 7.07% today, according to Mortgage News Daily. Rates haven't been this high since May 22, 2025, 476 days ago.
On February 23, the same index was 5.99%. If you're shopping with a set monthly payment in mind, you can borrow nearly 11% less today than you could then and keep that payment. At February's rate, $2,995 a month in principal and interest covered a $500,000 loan. Today it covers about $447,000.
Per $100,000 borrowed, that's $599 a month then and $670 now. A year ago, at 6.29%, it was $618.
Why rates moved this week
On Wednesday, the Treasury announced a smaller bond buyback than traders expected, and mortgage rates rose along with Treasury yields. New attacks in the Middle East pushed oil prices higher at the same time. Earlier, a strong August jobs report had put a Fed rate increase on the table for this month's meeting.
The share of mortgage applications for adjustable-rate loans rose to 8.5% last week, the highest since June, according to the Mortgage Bankers Association.
What it means in Metro Denver
Most of the increase since February came in the spring, so summer sales closed at rates in the mid-to-high 6s. Rates crossed 7% today. Homes going under contract now won't show up in closed-sale data until October.
For buyers
Seller concessions applied to a rate buydown usually lower the monthly payment more than the same dollars taken off the price. Ask your lender to price both before you write an offer. If you're already under contract and haven't locked, have that conversation now.
For sellers
Buyers qualify for less than they did in February. A concession they can put toward a buydown brings the payment within reach of more of them, and it often costs you less than a price cut that lowers their payment by the same amount.
Mortgage rates
| 30-year fixed, September 10 | 7.07% |
| Change from September 9 | +0.10 |
| One year ago | 6.29% |
August inflation data comes out September 11, and the Fed meets September 15–16. The Fed sets short-term rates. Mortgage rates follow the bond market, which reacts to both.
Sources: Mortgage News Daily, 30-year fixed daily index · Mortgage News Daily, September 9 rate commentary · Mortgage Bankers Association weekly survey, via Fortune. Payments are principal and interest on a 30-year fixed loan and exclude taxes, insurance, and HOA dues.
During the last week:
New Listings – 1516
Back On Market – 285
Price Increase – 82
Price Decrease – 2234
Pending – 1004
Withdrawn – 195
Closed – 690
Expired – 442
Previous Week:
New Listings – 1548
Back On Market – 304
Price Increase – 95
Price Decrease – 2554
Pending – 1069
Withdrawn – 224
Closed – 1222
Expired – 915
—
Based on data from REColorado®
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Budgeting for Homeownership
Buying a home in Metro Denver is one of the largest financial commitments you’ll ever make, and successful homeownership starts with realistic budgeting that goes far beyond simply qualifying for a mortgage. Understanding the full financial picture of homeownership is crucial for making a sustainable purchase decision.
| 30-Year Fixed Mortgage Rate 7.07% Up from 6.88% last week. Source: Mortgage News Daily ·9/10/2026 |
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