|
Mortgage Market Update
Jennifer Clemens
Clemens Mortgage Group, LLC
Friday, October 9, 2026
|
A quick rate check could save you $50+/month |
|
A Note From Jennifer Clemens
Happy Friday! 😎
Mortgage rates saw some pressure this week as markets reacted to ongoing global tensions and economic uncertainty. This afternoon, bond markets sold off after the Trump/Xi summit wrapped up with little progress toward easing concerns overseas, pushing Treasury yields to their highest levels since May 2025.
Temporary rate buy-downs continue to be a hot topic and help buyer's ease into their mortgage payment. Seller concessions, rate buy downs, bridge loans and strategy conversations can make a huge difference.
Also - We can now offer VantageScore options on certain loan programs in addition to traditional FICO scoring. This could be a game changer for some buyers and may even help save deals that previously may not have qualified. 🙌
If you need help running numbers or navigating a tricky scenario, I’m always just a text away!
|
Rates shifted again this week, and small moves can make a real difference on your payment. Here's what it means for you.
|
|
National Mortgage Rates · October 16, 2026
|
Conventional 30-Year
7.28%
|
|
| |
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%231e88a8%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
|
| |
|
|
Rate Watch
What This Week's Rate Movement Means for Your Payment
Mortgage rates move a little almost every week, and small shifts add up to real dollars on your monthly payment. On a typical loan, even a quarter-point change can mean $50 or more a month — money that's better in your pocket. The good news: you don't have to time the market perfectly. What matters most is being ready, with your credit in good shape and your documents handy, so when a window opens we can move quickly. If you bought or refinanced in the last couple of years, it's worth a five-minute check to see whether today's rates could lower your payment. There's no obligation and no cost to run the numbers — just clarity on where you stand.
|
|
Tip of the Week
Keep major renovations in line with your neighborhood. Over-improving for the area limits your return at resale.
|
|
Tips for Homeowners
Self-Employed Mortgage Tips
|
|
1.
|
Self-employed borrowers typically qualify based on net income from their tax returns, not gross revenue. Two years of returns are standard, and lenders average the two years — a bad year hurts you.
|
|
2.
|
Write-offs reduce taxable income, which is great for taxes but bad for mortgage qualification. Consider whether maximizing deductions in the 1–2 years before applying is worth it.
|
|
3.
|
Bank statement loans are an alternative for self-employed borrowers. Instead of tax returns, lenders use 12–24 months of bank deposits to calculate income. Rates and requirements vary by lender.
|
|
|
Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Jennifer Clemens team any time and we'll walk you through your options. |
|
|
|
|
602-214-9048 | https://clemensmortgagegroup.com/
You are receiving this from Clemens Mortgage Group, LLC. Unsubscribe
|
|
