10/22/2026
📉 Mortgage rates finally moved lower—but is the housing market finding its footing?
After weeks of increases, the average 30-year fixed mortgage rate dipped to 7.41%, down from 7.50% the previous week.
That's a welcome change, but the bigger picture remains challenging.
👀 Here's what we're watching:
📈 Treasury yields: The 10-year Treasury climbed to 5.04%, keeping pressure on mortgage rates.
🏦 Federal Reserve: Persistent inflation and uncertainty about future Fed decisions continue to influence borrowing costs.
🏡 Mortgage applications: Applications fell 5.3%, including a 7.3% decline in purchase applications.
📉 Pending home sales: Dropped 7.3% in September, reaching a record low.
🏗️ Builder confidence: Fell to 29, its lowest level since June 2012.
So, what does all this mean for homebuyers?
👉 A slower housing market doesn't necessarily mean you should put your plans on hold.
With fewer buyers actively shopping, there may be opportunities to negotiate on price, seller concessions, or other incentives—depending on the property and local market.
The key is understanding your purchasing power and what different financing strategies could mean for your monthly payment.
You can't control the market, but you can control how prepared you are.
🎥 Watch this week's Market Update for the full story.
📲 Whether you're thinking about buying, exploring your options, or helping a client navigate today's market, give us a call at (208) 725-3109.
Lisa and I are always happy to have a conversation and help you understand the numbers.
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