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Mortgage Market Update
Wade Willers
Wade Willers
Tuesday, October 20, 2026
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What you can afford to borrow shifts with rates |
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There's a direct line between the rate you qualify for and the home price you can actually manage. Here's what changes and why it matters.
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National Mortgage Rates · October 16, 2026
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Conventional 30-Year
7.28%
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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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Affordability Math
When rates rise, your buying power shifts
I talk to a lot of people who assume their budget is locked in stone, but the truth is your purchasing power moves with interest rates. When rates go up, the monthly payment on the same loan amount increases—which means you may need to look at a lower price point to stay within your target monthly payment. The flip side is true too: if rates move favorably, you might have more breathing room than you expected. This is why getting pre-approved isn't just about knowing your credit score—it's about understanding exactly what you can comfortably afford right now, in today's rate environment. If you're shopping or thinking about buying soon, let's talk about what your real budget looks like. I'm happy to walk you through how your numbers work at today's rates.
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Tip of the Week
Your loan officer can run a credit simulator to show exactly which actions will move your score the most.
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Tips for Homeowners
Year-End Tax & Mortgage Planning
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1.
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Consider making your January mortgage payment in December to get an extra month of deductible interest in the current tax year (consult your tax advisor first).
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2.
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If you plan to sell next year, now is a good time to document improvements — receipts and records add to your cost basis and reduce taxable capital gain at sale.
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3.
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Review your W-4 withholding if you bought a home this year — your mortgage interest deduction may mean you're having too much withheld from each paycheck.
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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 Wade Willers team any time and we'll walk you through your options. |
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