10/18/2026
Rates moved up again this week, and the Fed may not be done. Closer to home, Sandpoint has a zoning hearing coming up that downtown and Highway 2 owners will want on the calendar. Here's what's real this week.
Rates are up to 7.40%, the second weekly rise in a row
Freddie Mac's weekly survey on Oct. 8 put the average 30-year fixed rate at 7.40%. That's up from 7.28% the week before and 7.03% on Sept. 24. A year ago it was 6.30%.
In real dollars, on a $400,000 loan, principal and interest runs about $2,770 a month at 7.40%, compared with about $2,476 at 6.30%. That's roughly $294 more every month, before taxes and insurance.
Keep in mind the Fed raised its rate a quarter point in September, and minutes from that meeting show most officials expect another increase by the end of the year. Their next meeting ends Oct. 28. If you're buying, get a fresh number from your lender before you shop. Last month's pre-approval may not stretch as far.
Our local numbers don't look like the national ones
Nationally, Zillow says the typical home value is $366,913, up just 1% from a year ago, and newly pending sales fell 8.5%. About 27% of listings had a price cut in September.
Bonner County is running its own race. In August the median sale price was $670,000, up 15.5% from a year ago, and 70 homes sold, up 22.8%. There were 355 homes for sale, down 13.8%. That works out to about 7.3 months of supply (how long it would take to sell everything listed at the current pace), down from 9.8.
Boundary County is a smaller, slower market. Through September, 104 homes have sold this year, up from 95 at this point last year, and the year-to-date median sale price is $480,000, a little under last year's $490,000. Only 10 homes sold in September, so the monthly numbers swing a lot. What does stand out: the typical home that sold in September was on the market 112 days, about double last September's 53.
If you're selling, local prices have held up well, but buyers are taking their time. Pricing it right from day one matters.
Sandpoint downtown zoning hearing, Tuesday, Oct. 20
The City of Sandpoint is proposing zone changes for the downtown core, the outer core, and a downtown historic district overlay, with the goal of more mixed housing and business downtown. It also proposes a new community commercial zone along the arterials and Highway 2 between Boyer and Division, with a 45-foot height cap, and a neighborhood commercial zone for small shops mixed with housing.
The Planning and Zoning Commission hearing is at 5:30 p.m. Tuesday, Oct. 20, at City Hall. The City Council is expected to decide in December. If you own property downtown or along Highway 2, this is a good one to attend or send comments to.
If you want to talk through what any of this means for your place, or you're curious what your home would sell for right now, reply to this email or give me a call. No pressure, just a straight answer.
Talk soon,
Rain
Sandpoint Realty
Experience the Difference.
