VA 30-year rates are now averaging 6.81%, VA refi 6.74%, both according to Bankrate as of September 20. A week earlier those numbers were 6.59% and 6.54%. That's roughly a 20 basis point jump in seven days, and it lines up almost exactly with the Fed's decision. Freddie Mac's conventional benchmark moved the same direction and by a similar margin, from 6.76% to 6.95% week over week.

For your clients who ran numbers three weeks ago, tell them to run them again. A payment that penciled out at the start of the month may not pencil out the same way today, and a buyer who was on the fence about locking now has a real cost to waiting further.

Sources: Bankrate.com, Freddie Mac PPMS.

The Colorado Buyer Agents Association's 2026 market report describes Colorado Springs as shifting toward a "softer buyer's market," with nearly half of listings taking at least one price reduction. The Colorado Association of Realtors has been saying the same thing statewide: buyers now hold more leverage, more time to decide, and more room to negotiate than they have in years.

The underlying numbers back it up. Colorado Springs sits at roughly a 3.8-month supply, and average time to sell in July was 48 days, up 21% from a year ago. None of that means prices are falling. It means sellers who price at market on day one are still moving product, and sellers who don't are sitting.

Sources: Colorado Buyer Agents Association, Colorado Association of Realtors

Trends: VA rates up from last week and significantly higher than start of the month.

VA rate data from Bankrate's VA loan rates page, updated September 20, 2026. Conventional rate data from Freddie Mac's Primary Mortgage Market Survey, week of September 17, 2026. Fed rate decision reporting from the FOMC's September 16, 2026 policy statement. Local market data from the Colorado Buyer Agents Association's 2026 report and the Colorado Association of Realtors, both current as of their most recent releases. VA funding fee: 2.15% first use with no down payment, dropping to 1.5% at 5% down and 1.25% at 10% down; IRRRL funding fee is a flat 0.5% regardless of prior use. This is not a rate lock, a loan estimate, or advice for a specific borrower.

*IRRRL Viability: Based on the current VA refi rate of 6.78%, the estimated minimum viable existing mortgage threshold is around 7.88%. In other words, if your existing mortgage rate is 7.88% or higher, an IRRRL is likely worth the closing costs on a straight math basis. To personalize borrower variables, use the calculator at my website HERE.

Gene Richter, NMLS #2806488 · PBT Bancorp, NMLS #257781

🏠 Equal Housing Opportunity

Rates went up faster than most people expected, and Colorado Springs quietly became a buyer's market while everyone was watching the Fed. Both things are true at the same time, which is a good reminder that housing and mortgage markets don't always move on the same clock.

To review the full September issue, visit this link.

Gene Richter, Licensed Mortgage Loan Originator NMLS #2806488 · PBT Bancorp NMLS #257781 · Colorado Springs, CO (719) 722-4278 · VASpotlight.com

🏠 Equal Housing Opportunity | This newsletter is intended for real estate professionals and does not constitute a consumer credit advertisement. Rates shown are national averages for informational purposes only and are not a commitment to lend. Not all borrowers will qualify. This content does not constitute tax, legal, or financial advice. Consult a qualified professional for guidance specific to your situation. Gene Richter is a licensed Mortgage Loan Originator (NMLS #2806488) operating through PBT Bancorp (NMLS #257781), licensed to originate mortgage loans in Colorado.