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Mortgage Market Update
Johnny DuRocher
Johnny DuRocher
Monday, October 26, 2026
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Why your neighbor's mortgage might not be yours |
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Hi there. One of the most overlooked decisions in buying or refinancing is choosing the right loan program for your specific circumstances.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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.
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Loan Programs
Not all mortgages are built the same
If you've been shopping around or just curious about your options, you've probably heard terms like conventional, FHA, VA, or USDA tossed around. Each program has its own rules about down payments, credit requirements, and who qualifies. What works perfectly for one borrower might not be the best fit for another—and that's actually good news. It means there's likely a path forward even if you thought you didn't have one. The right loan program can mean the difference between a manageable payment and one that stretches your budget too thin. I'd love to walk you through which programs make sense for your situation.
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Tip of the Week
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Johnny DuRocher team any time and we'll walk you through your options. |
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2701 East Insight Way, Suite 150 Chandler AZ 85286
https://johnnydurocher.theradcrm.com/home
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