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Friday, October 2, 2026 |
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Business Partner Update
Temporary Buydowns — Mortgage Update for Realtors
Rate Snapshot · Week of October 1, 2026 |
▲ +0.25% |
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Conventional 30-Year
7.28%
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These are national average rates for the week of October 1, 2026. The 30-year fixed is at 7.28% — up 0.25% from last week, and VA at 7%. For exact rates tailored to your buyers, reach out to your loan officer directly.
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From Your Lending Partner
The 2-1 Buydown Is One of the Best Negotiating Tools You're Not Using
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Seller concessions used to mean price reductions. In this market, the smarter play is a temporary buydown — and it's one of the best tools I have to make a deal work for everyone. Here's how it works: the seller contributes funds at closing that temporarily reduce the buyer's interest rate. A 2-1 buydown means the buyer pays 2% below the note rate in year one, 1% below in year two, and the full rate from year three on. On a $400K loan at 7%, that's a first-year payment closer to a 5% rate — a difference of about $500/month. Buyers love the cash flow relief in those early years. Sellers get a cleaner deal without a price cut that affects their comp. And you get a transaction that actually closes. I can model this for any buyer in a few minutes. If you're negotiating a deal right now and the payment gap is the issue, a buydown conversation might be exactly what's needed.
I'll run a buydown model for your active listing or buyer today — just reach out.
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Did You Know?
USDA Guaranteed Loan
Zero down in eligible suburban and rural areas.
USDA guaranteed loans offer 100% financing to income-qualifying buyers purchasing in eligible areas — which often includes suburban communities within 30–45 minutes of major metros. No down payment, no monthly PMI.
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✓Zero down payment required
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✓No monthly mortgage insurance (just a small upfront fee)
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✓Competitive 30-year fixed rates
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✓Geographic eligibility broader than most agents realize
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Share With Your Buyers
Homeownership After Closing
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1.
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Set up your mortgage autopay immediately — a missed payment hurts your credit fast.
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2.
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Keep 1–3% of your home's value in an emergency maintenance fund for repairs.
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3.
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Refinancing may make sense if rates drop 0.5–1% or more from your current rate — check in annually.
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4.
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Your home equity grows with every payment and every dollar of appreciation — track it.
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5.
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Review your homeowner's insurance annually to make sure coverage keeps pace with replacement costs.
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Tip of the Week
Consider a 15-year mortgage if the payment fits your budget — you'll pay significantly less in total interest.
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602-214-9048 · https://clemensmortgagegroup.com/
Book a meeting →
You are receiving this as a referral partner of Clemens Mortgage Group, LLC.
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