|
Mortgage Market Update
Jason Thomas
Jason Thomas
Thursday, October 22, 2026
|
The mortgage choice that matters most |
|
Hi there. This week I want to talk about something that shapes your entire loan experience—but often gets overlooked in the rush to lock in a rate.
|
|
National Mortgage Rates · October 20, 2026
|
Conventional 30-Year
7.33%
|
|
| |
|
%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
Not all mortgages work the same way
One of the biggest decisions you'll make isn't about the rate—it's about which loan program fits your situation. Fixed-rate mortgages lock in stability; adjustable-rate loans might start lower but change over time. Some programs let you put less down; others reward larger down payments. Some have flexibility built in; others are more straightforward. What works for your neighbor might not work for you, and that's okay. The right choice depends on your timeline, how long you plan to stay, and what kind of payment certainty matters most to you. I'd love to walk through which programs align with your goals. Let's talk about which loan structure makes the most sense for your situation.
|
|
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 Jason Thomas team any time and we'll walk you through your options. |
|
|
You are receiving this from Jason Thomas. Unsubscribe
|