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Monday, October 26, 2026 |
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Mortgage Market Update
Should you buy now or wait for rates to drop?
Trying to decide whether now is the right time to buy? We put together a practical guide that walks through the real numbers—so you can make a choice that works for your wallet and timeline.
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National Mortgage Rates · October 23, 2026
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Conventional 30-Year
6.98% 30-day Range: 6.89%–7.21%
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Conventional 15-Year
6.47% 30-day Range: 6.21%–6.56%
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FHA 30-Year
6.83% 30-day Range: 6.65%–6.96%
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VA 30-Year
6.65% 30-day Range: 6.57%–6.88%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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
What your loan type actually controls
Not all mortgages work the same way. The loan program you choose—fixed-rate, adjustable-rate, FHA, conventional, VA, or USDA—shapes everything from your monthly payment to how your interest rate behaves over time. Each has different rules about down payments, credit requirements, and what happens to your payment down the road. Understanding which program fits your situation matters more than chasing the absolute lowest rate this week. The right loan for you is the one that matches your plans, your finances, and your comfort level. I'd love to walk you through what each option means for your specific scenario.
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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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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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Smarter Moves. Happier Homeowners.
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Rising mortgage rates make affordability tougher, but waiting isn't always the answer. This guide compares the full cost of buying today versus waiting for lower rates, including payment scenarios and refinance break-even points so you can decide what makes sense for your situation.
| Key takeaway: the right time to buy depends on your personal timeline and budget—not just what rates might do next. |
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Real Estate - Keeping Current Matters
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When rates climb higher, monthly payments get steeper and fewer buyers can qualify for the homes they want. Some buyers are exploring adjustable-rate mortgages as a way to get into a home today with a lower starting payment, though it's important to understand how these loans work and what could happen later.
| Key takeaway: an ARM might lower your payment now, but you need to be comfortable with the risk that your rate could increase down the road. |
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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 Paul Cederholm team any time and we'll walk you through your options.
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303-931-6798
NMLS# 1697336 · Company NMLS# 891464
Mortgage Broker | Cederholm Mortgage Advisors at Edge Home Finance · Unsubscribe
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