Tuesday, October 6, 2026

A Note From Tim Powers

🏡 Tuesday Market Update: More Inventory, More Negotiating Power & More Opportunities!

Happy Tuesday, Partners!

Hope everyone had a fantastic weekend!

While mortgage rates have been challenging lately, there are some real opportunities developing in the housing market. The agents who recognize those opportunities, reconnect with their buyers, and offer creative solutions are the ones who can keep putting deals together!

Here's what's happening and how we can turn it into more business.

📈 THIS WEEK'S MORTGAGE MARKET UPDATE

According to Freddie Mac's October 8 report:

30-Year Fixed: 7.40% national average, up from 7.28% the previous week.

15-Year Fixed: 6.73% national average, up from 6.60%.

Market Outlook: Inflation concerns and rising bond yields continue to pressure mortgage rates.

These are national survey averages for well-qualified conventional borrowers, not individual rate quotes. Actual rates and costs depend on credit, down payment, loan program, market conditions, and other factors.

The good news? Buyers have something they haven't had much of in recent years: MORE NEGOTIATING POWER!

🏠 ARIZONA & WASHINGTON MARKET OPPORTUNITIES

Phoenix / Scottsdale Area

Phoenix-area buyers are seeing more choices. September active listings increased approximately 7.5% year over year, and nearly 29% of listings had price reductions.

That creates opportunities to negotiate seller concessions, closing-cost assistance, and potentially mortgage rate buydowns.

Washington State

Northwest MLS reported a 24.5% increase in active listings compared with September 2025, while pending sales declined 15.1%.

More inventory and less competition can mean opportunities for buyers who were previously frustrated by bidding wars.

The takeaway: A higher interest rate doesn't necessarily mean a buyer can't find a better overall deal!

💰 3 WAYS TO GENERATE MORE BUSINESS THIS WEEK

1️⃣ Reconnect With Buyers Who Put Their Search on Hold

Reach out to buyers who stopped looking because of rates or affordability.

Try saying:

"I know you stepped back from buying, but we're seeing more inventory and sellers willing to negotiate. Would you be interested in seeing what we could put together with some creative financing?"

You might be surprised how many buyers are willing to reconsider!

2️⃣ Turn Price Reductions Into Financing Opportunities

When you see a listing that's been sitting or has recently reduced its price, let's look at the numbers.

Sometimes negotiating seller-paid closing costs or a temporary rate buydown can improve a buyer's initial cash flow more than an additional price reduction.

I'll gladly help you put together payment comparisons to present to your buyers.

3️⃣ Don't Give Up on Buyers Who Were Previously Declined

A buyer who was turned down by one lender isn't necessarily out of options.

Self-employed borrowers, commission income, credit challenges, unusual employment situations, and buyers needing alternative financing may have solutions worth exploring.

Before you give up on a transaction, give me a call!

⭐ ALREADY PREAPPROVED? LET ME TAKE A SECOND LOOK!

This is something I encourage every agent to consider.

Just because your buyer has a preapproval letter doesn't mean they have the best financing available.

With more than 20 years in the mortgage business and access to 150+ lenders, I can compare programs, pricing, and financing structures that may not be available through their current lender.

A second look could potentially mean:

✅ A more competitive interest rate or lower closing costs.

✅ A lower monthly payment through a different financing structure.

✅ Additional purchasing power.

✅ Access to alternative loan programs.

✅ Identifying potential financing issues before they jeopardize your closing.

And sometimes, I'll confirm that your buyer already has an excellent loan option.

Either way, you and your buyer benefit from knowing you've explored the options.

My goal isn't to complicate your transaction. It's to help you protect it, deliver outstanding service, and get more clients to the closing table.

🚀 LET'S TURN OPPORTUNITIES INTO CLOSINGS!

Here's my challenge for this week:

Reach out to five past buyers who never purchased and five current prospects who might benefit from a financing review.

That's 10 opportunities to start conversations that could turn into your next transaction!

If you have a buyer who is already preapproved, needs a second opinion, or has a challenging scenario, I'd love the opportunity to help.

Send me their scenario, call me, or introduce us by email. I'll take it from there!

Let's make it a productive week, help more families become homeowners, and get some deals closed!

Have a fantastic week!

Tim Powers

These are national mortgage index rates as of October 16, 2026, plus our pricing adjustment. The 30-year fixed is at 7.78% — down 0.11% from last week, FHA at 7.13%, and VA at 7.05%. For exact rates tailored to your buyers, reach out to your loan officer directly.

Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment

From Your Lending Partner

The 2-1 Buydown Is One of the Best Negotiating Tools You're Not Using

Seller concessions used to mean price reductions. In this market, the smarter play is a temporary buydown — and it's one of the best tools I have to make a deal work for everyone. Here's how it works: the seller contributes funds at closing that temporarily reduce the buyer's interest rate. A 2-1 buydown means the buyer pays 2% below the note rate in year one, 1% below in year two, and the full rate from year three on. On a $400K loan at 7%, that's a first-year payment closer to a 5% rate — a difference of about $500/month. Buyers love the cash flow relief in those early years. Sellers get a cleaner deal without a price cut that affects their comp. And you get a transaction that actually closes. I can model this for any buyer in a few minutes. If you're negotiating a deal right now and the payment gap is the issue, a buydown conversation might be exactly what's needed.

I'll run a buydown model for your active listing or buyer today — just reach out.

Mortgage News Daily

Home Prices Keep Climbing, Just Not Everywhere

Home prices picked up a little more speed in July, as both FHFA and the S&P Cotality Case-Shiller Home Price Indices showed stronger annual appreciation than in their previous readings. The gains remain relatively modest by historical standards, and while nominal prices are still moving higher nationally, the picture looks considerably less impressive after accounting for inflation. The FHFA H

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Daniel Lewis was removed as interim CEO effective Oct. 5, per an SEC filing

Mortgage News Daily

New Home Sales Back in The Range After Uncommonly Big Bounce

The new home market returned to the longer-term range last month, with sales seeing their 4th biggest rebound in 4 years.  Sales of new single-family homes rose to a seasonally adjusted annual rate of 684,000 in August, up 6.4% from July's revised 643,000 but 2.0% below the same month last year. The increase puts sales back above the 600,000 mark after July's pullback, although the broader tr

Did You Know?

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Zero down in eligible suburban and rural areas.

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Share With Your Buyers

Homeownership After Closing

Tip of the Week

Consider a 15-year mortgage if the payment fits your budget — you'll pay significantly less in total interest.

Your Mortgage Advisor