The Mortgage Vet Weekly · Montana · Issue #6 · July 15, 2026
Big Sky, Half a Year Gone.
Second Half Starts Now.
Six months in, and Montana summer is in full swing. This week we keep it light: where rates and the market sit at the halfway mark, what is happening around the state, a tomahawk worth firing up the grill for, and your Montana agent.
The Dip Didn't Stick.
Two weeks ago the 30-year touched a seven-week low at 6.43%. It bounced right back. Here is where the weekly average landed and where the market sits today.
Prices Up, Sales Cooling.
June sales eased as buyers reacted to the rate bump, but there were still more homes changing hands than a year ago, and the price kept climbing.
The Big Sky Read.
Montana is holding steady heading into the back half of summer. Prices are up a touch from a year ago, homes are moving a little faster than they were, and supply sits in balanced territory.
57 Years Ago: Apollo 11 Lifts Off.
On July 16, 1969, a Saturn V rocket left the pad in Florida and put three Americans on a path to the moon. Four days later, two of them walked on it.
Here is the part people forget. All three astronauts were career military. Neil Armstrong flew combat missions for the Navy. Buzz Aldrin and Michael Collins were Air Force. The biggest leap in human history was made by people who served first.
It is a good reminder this summer. The discipline you built in uniform is the same thing that gets you to the closing table.
How to Read a Listing That Has Been Sitting.
Summer brings out the homes that did not sell in spring. A long time on the market can mean room to negotiate. It can also be a warning.
Most homes sit for a reason. Sometimes it is just an overpriced list. Other times it is the roof, the well, the septic, or the location. Before you get excited about a "deal," find out why it is still there.
Talk to your agent and your loan officer early. Some homes will not pass the inspection or appraisal a given loan requires. A quick call up front tells you if the property even fits the loan you want.
Three Things Worth Knowing.
Rates bounced off the low.
After a seven-week low on July 2, the 30-year average ticked back up to 6.49%. Cooler June inflation pulled one way, higher oil prices pulled the other.
First-time buyers are back to one in three.
New buyers made up 33% of June closings, up from 30% a year ago. Still below the 40% a healthy market shows, but moving the right way.
Inventory growth stalled.
Listings slipped 0.6% in June to 1.56 million nationwide. There are still more homes than a year ago, but the spring buildup paused. Less supply can push prices up faster.
Get Out and Enjoy It.
The best part of a Montana summer is what happens outside. Here is a little of what is going on across the state before the season slips away.
Montana State Fair
Symphony Under the Stars
Flathead Cherry Festival
Western Montana Fair
The Montana Tomahawk.
Bison or beef, this is the centerpiece steak for a Montana summer cookout. A slow start and a hot finish get you an edge-to-edge medium-rare with a deep crust. Plan for a two-inch tomahawk.
Tomahawk, Done Right
The Method
- 1Salt it well an hour ahead, or the night before uncovered in the fridge. Pepper right before cooking.
- 2Go low and slow in the oven or smoker at 225 to 250°F. For beef, pull around 115°F. For bison, pull earlier, near 105 to 110°F.
- 3Rest 10 minutes while a cast iron pan or grill gets screaming hot.
- 4Sear each side 60 to 90 seconds for a deep crust. Add butter, garlic, and herbs, and spoon it over the last 30 seconds. Hit the fat edge too.
- 5Rest 10 minutes. Slice against the grain off the bone.
Your Montana Agent.
Terral Black
When Paul sends a Montana buyer or seller to someone, it is Terral Black. She owns North Star Realty, a veteran-owned and veteran-operated brokerage right here in Great Falls, in the same building as Paul. She knows this ground, she puts clients first, and she gets deals done. If you are buying or selling in Montana, start with Terral.
Read Another Edition
Rates and the national numbers are the same everywhere. Local markets are not. Tap through to the national issue, another state, or the full Learning Hub.
Buying or Selling in Montana?
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Paul Messina
Halfway through the year is a good time to be honest with yourself. Six months ago you set a goal. Maybe it was to buy this year. Maybe it was to get your finances ready. Where are you on it?
Montana does not slow down in the back half of summer, and neither should your plan. If a home is on your list, do not wait for a "perfect" rate nobody can promise. Get pre-approved, know your budget, and be ready when the right place shows up. And when you are ready to look, Terral is right here.
Enjoy the fair. Then let's get to work.
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