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Mortgage Market Update
Joey Rivero
Clear Choice Lending Group
Monday, October 26, 2026
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The one mortgage choice that matters most |
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Hi there. This week I want to talk about something that gets overlooked in a lot of conversations—but it shouldn't.
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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
Why your loan type matters more than you think
Not all mortgages work the same way, and the type you choose affects far more than just your interest rate. Some loans let you build equity faster. Others offer flexibility if your life changes. Some forgive a portion of what you owe under certain conditions. The program that makes sense for your neighbor might not be right for you—it depends on your timeline, how long you plan to stay in the home, and what happens if rates shift. I spend a lot of time helping borrowers understand which loan actually fits their situation instead of just picking the cheapest option on paper. The right choice now can save you real money and stress down the road. Let's talk through which loan type aligns with your goals—I'm here to walk you through the options.
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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 Joey Rivero team any time and we'll walk you through your options. |
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