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Mortgage Market Update
Megan Henderson
Barrett Financial
Tuesday, October 20, 2026
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Should you lock your rate this week? |
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Hi there. This week I want to tackle a decision that comes up for almost every borrower: the timing question around rate locks.
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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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Smart Timing
When to lock in your rate—and when to wait
One of the questions I hear most is: should I lock my rate now or wait and see? There's no magic answer, but here's what matters: locking protects you from rate moves while your loan is being processed. Waiting makes sense only if you genuinely believe rates will drop significantly and you're comfortable with the risk that they won't. Most people benefit from locking once they find a rate they can live with, rather than trying to time the market. The peace of mind alone is worth it. I'm happy to walk through what makes sense for your specific timeline and goals. Let's talk about your rate lock strategy—reach out and we'll figure out what's best for you.
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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 Megan Henderson team any time and we'll walk you through your options. |
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