|
Mortgage Market Update
Sandria Taylor-Joseph
Sandria Taylor-Joseph
Tuesday, October 27, 2026
|
Do you know what kind of loan you have? |
|
There's a difference between having a mortgage and understanding it. This week, let's fix that.
|
|
National Mortgage Rates · October 23, 2026
|
Conventional 30-Year
7.23%
|
|
| |
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%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.
|
|
|
|
Loan Programs
What your loan type actually means for your wallet
I talk to homeowners all the time who know they have a mortgage, but aren't entirely sure what kind. Fixed-rate, adjustable, FHA, conventional—the names can blur together. Here's why it matters: your loan type affects how your payment stays stable over time, what your interest rate can do, and how much flexibility you have down the road. Some loans make sense if you're staying put for decades. Others work better if you think you'll move or refinance within a few years. Understanding what you actually signed up for isn't just about knowing the details—it's about knowing whether your loan is still the right fit for where you are now. If you're fuzzy on yours, that's totally normal, and I'm happy to walk through it. Let's talk about whether your current loan is still working for you.
|
|
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.
|
|
Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
|
|
1.
|
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.
|
|
2.
|
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.
|
|
3.
|
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.
|
|
|
Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Sandria Taylor-Joseph team any time and we'll walk you through your options. |
|
|
You are receiving this from Sandria Taylor-Joseph. Unsubscribe
|
|