According to a Redfin News housing-market update published September 10, 2026, covering the four weeks ending September 6. Rate context also references Freddie Mac’s Primary Mortgage Market Survey as of September 10, 2026.
What the report says
Redfin puts the typical U.S. homebuyer’s monthly principal-and-interest payment at about $2,641 for the four weeks ending September 6 — the highest level since June 2025. That reflects a median sale price up 2.2% year over year and a weekly average mortgage rate around 6.71% in that survey window.
Freddie Mac’s Primary Mortgage Market Survey printed even higher a few days later: the 30-year fixed averaged 6.76% as of September 10 (up from 6.71% the prior week). A year earlier it was 6.35%.
Demand stayed soft. Pending home sales were essentially flat (+0.1% week over week) and near their lowest level since February. New listings dipped 4.8% week over week largely because of Labor Day timing, but they were still up 2.1% year over year — and active listings were also up 2.1%.
What it means for California and Oregon shoppers
- San Jose new listings were up 10% year over year; Anaheim was up 9.3%. More fresh supply usually means more homes to compare before you write an offer.
- San Francisco remains a different market: median sale prices rose 8.5% year over year, and Redfin notes some desirable, well-priced homes still draw competition. About 25.5% of U.S. sales still went above asking.
- Oakland median sale prices were down 2.1% year over year; San Diego pending sales fell 10.4%. California is not one market.
- Nationally, about 20.8% of listings showed a price drop (up from 19.8% a year earlier), and the typical home that sold spent 46 days on market.
Key points to know
- Higher payments do not erase negotiating power. Redfin’s read is that elevated costs are keeping some shoppers on the sidelines — which can leave more leverage for buyers who stay active.
- Months of supply sits at about 3.9 nationally (up from 3.8 a year earlier). Redfin treats roughly 4 to 5 months as more balanced.
- National averages are not a personal quote. Your credit, down payment, loan type, property, and lock timing drive the number on your Loan Estimate.
- Shopping more than one lender still matters when rates are moving. Freddie Mac’s chief economist reminded buyers that comparing quotes can save thousands.
Important limits
- These are metro and national averages for a four-week window. Neighborhood and price-point conditions can look very different.
- A 14-month high in modeled payments is not a forecast that rates will keep rising next week — or that they will fall.
- This is market context, not advice to buy, wait, or refinance. Your budget, reserves, and timeline decide what pencils.
Bottom line: Redfin’s latest weekly read shows homebuying costs at a 14-month high, with Freddie Mac’s latest print at 6.76% on the 30-year fixed. For California and Oregon shoppers still in the market, the flip side is more choice and more frequent price cuts in many metros — while pockets like San Francisco can still feel competitive. Compare total monthly cost and terms, not just the headline rate.
Sources: Redfin: High Costs Sideline Some Would-Be Homebuyers, Handing Upper Hand to Those Who Stay in the Market (September 10, 2026); Freddie Mac Primary Mortgage Market Survey (as of September 10, 2026).
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