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Mortgage Market Update
Jesse Wien
BARRETT FINANCIAL GROUP LLC
Monday, October 26, 2026
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Fixed or adjustable—which one's right for you? |
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Hi there. This week I want to walk you through one of the biggest loan decisions you'll make—and it's easier to understand than you might think.
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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 Program Basics
Fixed vs. adjustable: which loan fits your plan?
One of the first choices you'll make is whether you want a fixed-rate loan or an adjustable-rate mortgage (ARM). A fixed rate stays the same for the life of your loan—your payment never changes, which makes budgeting predictable. An ARM typically starts lower but can adjust after an initial period, which means your payment could go up. Neither is inherently right or wrong; it depends on how long you plan to stay in your home and how comfortable you are with payment uncertainty. If you're in it for the long haul and want peace of mind, fixed is usually the safer choice. If you think you'll sell or refinance within a few years, an ARM might work. The key is understanding what you're signing up for before you commit. Let's talk through which option makes sense for your situation and timeline.
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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 Jesse Wien team any time and we'll walk you through your options. |
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9202573426 | https://www.barrettfinancial.com/jesse-wien
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