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Mortgage Market Update
Veronica DeWitt
Barrett Financial
Monday, October 26, 2026
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Which loan type fits your life |
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Hey there. This week I want to talk about something that often gets overlooked: the shape of your loan itself.
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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 Fit
Picking the right loan type matters more than you think
Not all mortgages are built the same. A 15-year loan, a 30-year loan, an ARM, a fixed rate—each one solves a different financial puzzle. The right choice depends on your timeline, your comfort with risk, and what you actually want your monthly payment to do for you. Some people want stability and predictability; others prioritize flexibility or building equity faster. There's no universal "best" answer. That's why it's worth sitting down and talking through what matters most to your situation. I'm here to walk you through the trade-offs so you can feel confident in whichever path you choose.
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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 Veronica DeWitt team any time and we'll walk you through your options. |
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5750 Sunrise Blvd Ste 130 ECitrus Heights, CA 95610
5103968994 | www.dewitthomeloans.com
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