11/02/2026
Bi-monthly mortgage update, and there is actually some good news to share.
The Fed met yesterday and held steady, which is exactly what was expected. Last update I mentioned they were eyeing December for any potential rate movement, not October, and that held true.
Here is where things get interesting. There has been a flight to safety in the bond markets, largely driven by uncertainty around AI profitability and what that means for investors. Money is moving back into bonds, which pulled the 10-year below 5 percent again. The result: mortgage rates have flattened out. We stopped climbing past the mid sevens and are now coming back into the lower sevens. FHA rates are back in the mid to high sixes. That is meaningful progress.
Inflation did come in a little hotter than expected, but that is largely being driven by fuel prices. If oil costs stabilize, we should see that pressure ease.
On the buyer side, sellers are still offering real incentives right now. Closing cost credits, rate buydowns, two-one buydowns. If you are a first-time buyer or know someone who is, this is worth a conversation.
And if the holidays have you thinking about debt consolidation, a cash-out refinance, or a home equity line of credit, reach out. Let’s figure out what makes sense for your situation.
