Welcome to your market update for the week of June 22, 2026. It was a constructive stretch for anyone watching interest rates: the Federal Reserve held steady, oil prices tumbled on easing Middle East tensions, and the 30-year fixed slipped back below 6.5% nationally. Closer to home, the Bay Area remains a firmly tight seller's market, with well-priced homes still drawing multiple offers and moving quickly.
Market Trends & Stats
The national housing market held its footing this week. New listings picked up to start June, while homes sold at roughly the same pace as a year ago — a sign that buyer demand is still strong enough to absorb the supply coming online. Affordability remains the central theme as inventory slowly returns.
| Metric | Reading |
|---|---|
| Existing sales pace | Steady vs. a year ago |
| U.S. homeownership rate (Q1) | 65.3% |
| New listings | Rising to start June |
Mortgage Rate Update
Rates drifted lower over the week. The 30-year fixed opened near 6.52% and eased to roughly 6.47% by Friday as energy prices fell and the Fed held its line. The 15-year fixed sits near 5.81%. For context, a year ago the 30-year averaged 6.81% — so we're meaningfully better off than last summer.
Rates as of June 22, 2026 — subject to qualification. Current rates posted at NestMortgage.ai/rates.
Inside Lending Insight: Fannie Mae's latest outlook points to a stronger mortgage market in the second half of 2026, with refinance expectations actually outpacing MBA projections. If rates stabilize, that could bring a wave of added activity — worth watching if you've been waiting for a window to refinance. Current rates are published on NestMortgage.ai/rates and update regularly. Subject to qualification.
Economy News
Two big stories drove markets this week. First, crude oil sold off sharply — falling toward the mid-$70s — as a U.S.–Iran ceasefire framework eased fears of supply disruption through the Strait of Hormuz. Lower energy costs tend to take pressure off inflation, which is friendly for rates. Second, the Fed held the funds rate at 3.50–3.75% for a fourth straight meeting, though its updated projections lean slightly more cautious on inflation. The May jobs report was solid, with 172,000 jobs added and unemployment steady at 4.3%.
| Indicator | Reading |
|---|---|
| WTI crude oil | ~$76 / barrel |
| U.S. unemployment (May) | 4.3% |
| Fed funds rate | 3.50–3.75% (held) |
Bay Area Local Housing
The Bay Area remains firmly a seller's market. Overall inventory sits around 2.2 months, but the urban core is far tighter: San Francisco is near 1.2 months, Santa Clara around 1.5, and San Mateo near 1.7. Well-priced homes are still drawing multiple offers and selling at or above asking. Pacific Heights, Noe Valley, and Bernal Heights continue to lead on price growth, and the AI/tech boom keeps demand humming in SF, San Jose, SoMa, and Mission Bay. The SF metro median recently hit a record near $1.7M, even as the broader nine-county median held around $1.4M. San Francisco remains among the three most expensive markets in the nation.
| Bay Area Metric | Reading |
|---|---|
| SF months of inventory | ~1.2 months |
| SF metro median price (YoY) | +14.4% |
| Avg. days on market (SF) | ~14 days |
Tips for Bay Area Buyers & Sellers
For buyers: Speed and preparation win in this market. Get fully pre-approved before you tour — not just pre-qualified — so you can move the moment the right home appears. Lean on your agent to write clean, well-structured offers, and have your financing dialed in ahead of time. When inventory is this tight, the prepared buyer is the one who gets the keys. For sellers: You're in the driver's seat, and summer is an excellent time to list. Focus on strategic, market-aware pricing and strong presentation — staging, photography, and prep still pay off, especially in the core neighborhoods seeing the most demand. Well-prepared listings are the ones drawing multiple offers right now. Have questions about your specific situation? Reach out to me directly — I'm always happy to walk through your numbers and options, no pressure.
Kaveh Sartipi | NMLS# 247776 | DRE# 01363588 | Answer Home Loans, Inc. is a Licensed Real Estate Broker, California Department of Real Estate DRE# 02058505 | NMLS# 1729528 | Equal Housing Lender. This is not a commitment to lend. All loans subject to credit approval, underwriting, and program guidelines. Rates and terms subject to change without notice.
Kaveh Sartipi
Mortgage Advisor · NMLS# 247776 · Top 1% Nationally
Kaveh Sartipi is the founder of Nest Mortgage and has been helping Bay Area buyers finance their homes since 2001. With access to 70+ wholesale lenders, he specializes in finding the right loan for each client's unique situation.