Tuesday, October 6, 2026

A Note From Tim Powers

Monday Market Update: Higher Rates = More Opportunity for Great Agents

Hi Partners,

Happy Monday! Here’s a quick look at what’s happening in the mortgage market—and more importantly, how we can use it to create opportunities this week.

🏡 MARKET UPDATE

Mortgage rates have moved higher recently, with national averages for top-tier 30-year fixed loans now in the mid-to-upper 7% range.

That’s certainly not the headline buyers want to hear—but remember: higher rates don’t mean people stop needing to buy homes.

People still get married, have babies, relocate, change jobs, downsize, divorce, inherit money and simply decide they’re ready for something different.

Our job is to help them figure out HOW to make the numbers work.

💰 3 WAYS TO CREATE MORE BUSINESS THIS WEEK

1. Call the buyers who stopped looking.
Don’t ask, “Are you ready to buy again?” Instead, try:

“If we could restructure the financing or negotiate the right seller concessions and get the payment closer to where you wanted it, would you consider looking again?”

That starts a completely different conversation.

2. Look for listings with motivated sellers.
Days on market, price reductions and seller motivation can create opportunities for closing-cost credits, temporary buydowns and other financing strategies. Sometimes the opportunity isn’t finding a cheaper house—it’s structuring a better deal.

3. Revisit your old leads.
That buyer you spoke with 3, 6 or even 12 months ago may be in a completely different financial position today. One phone call could turn an old lead into your next closing.

⭐ ALREADY PREAPPROVED? SEND THEM TO ME ANYWAY.

This is one of the biggest opportunities I see agents miss.

If your buyer is already preapproved somewhere else, I’m not asking you to disrupt the relationship—I’m asking you to protect your client and your transaction.

As a mortgage broker, I have access to 150+ lenders, which allows me to look at different rates, programs and loan structures.

Sometimes I can improve the financing. Sometimes I can increase purchasing power. Sometimes I can find an option the original lender didn't offer.

And sometimes I confirm that the buyer already has a great deal.

Either way, you and your client win.

I’m also happy to take a second look at the difficult deals—the buyer who was declined, has unusual income, needs alternative financing, is self-employed or simply needs someone to think outside the box.

🚀 LET’S CREATE SOME CLOSINGS

Don't wait for rates to become “perfect.” The agents who continue having conversations, working their databases and finding creative solutions are the ones who will continue getting paid.

Have a buyer you're working with right now?

Send them my way—even if they're already preapproved.

Give me the opportunity to take a second look. There’s no obligation, and we may uncover an option that helps you get another buyer under contract.

Have a great week and let's go sell some homes!

Tim Powers
Branch Manager / Loan Originator

These are national average rates for the week of October 1, 2026. The 30-year fixed is at 7.78% — up 0.25% from last week, FHA at 7.17%, and VA at 7.2%. For exact rates tailored to your buyers, reach out to your loan officer directly.

From Your Lending Partner

The 2-1 Buydown Is One of the Best Negotiating Tools You're Not Using

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.

Mortgage News Daily

Home Prices Keep Climbing, Just Not Everywhere

Home prices picked up a little more speed in July, as both FHFA and the S&P Cotality Case-Shiller Home Price Indices showed stronger annual appreciation than in their previous readings. The gains remain relatively modest by historical standards, and while nominal prices are still moving higher nationally, the picture looks considerably less impressive after accounting for inflation. The FHFA H

HousingWire

Vishal Garg lays out Better 2.0 plan during shareholder call

Daniel Lewis was removed as interim CEO effective Oct. 5, per an SEC filing

Mortgage News Daily

New Home Sales Back in The Range After Uncommonly Big Bounce

The new home market returned to the longer-term range last month, with sales seeing their 4th biggest rebound in 4 years.  Sales of new single-family homes rose to a seasonally adjusted annual rate of 684,000 in August, up 6.4% from July's revised 643,000 but 2.0% below the same month last year. The increase puts sales back above the 600,000 mark after July's pullback, although the broader tr

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.

Share With Your Buyers

Homeownership After Closing

Tip of the Week

Consider a 15-year mortgage if the payment fits your budget — you'll pay significantly less in total interest.

Your Mortgage Advisor