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Monday, October 26, 2026 |
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Mortgage Market Update
Picking the right loan program for you
Not all mortgages work the same way. Understanding your options is the first step to getting a good deal.
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National Mortgage Rates · October 23, 2026
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Conventional 30-Year
7.23%
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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 Programs
What your loan type means for your money
When you're shopping for a mortgage, you'll hear names like conventional, FHA, VA, or USDA. These aren't just labels—they're different paths to homeownership, each with its own rules about down payments, credit requirements, and costs. The right program for you depends on your situation: your military service, your income, where you're buying, and how much you have saved. Picking the wrong one might mean paying more over time or missing out on benefits you actually qualify for. I'm here to walk you through what each program really does and which one makes sense for your goals.
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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 Joseph Kelley team any time and we'll walk you through your options.
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3900 Lennane Dr Ste 200, Sacramento, CA 95834
916-612-4294
NMLS# 1705850 · Company NMLS# 02052578
"Joe the Mortgage Giant" · Unsubscribe
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