Mortgage Mom Radio Weekly - October 16, 2026

Friday, October 16

0.03%

This week the rate on your sheet came in under the rate on the news

Freddie Mac published 7.40% yesterday morning, unchanged from the week before. Lenders were quoting 7.37% today, down from 7.48% a week ago. The survey is taken Monday through Wednesday and released on Thursday, so it missed most of this week’s drop. Your rate sheet did not.

Freddie Mac PMMS, October 15, 2026, and Mortgage News Daily, October 16, 2026. National averages for illustration only, not a commitment to lend. Your rate depends on credit, loan amount, property and full underwriting.

Average rates today

National averages, October 16, 2026

HELOC, home equity loan and DSCR pricing is quoted per scenario, not as a national average, so there is no honest number to print here. Text me and I will quote yours.

Conforming covers loans backed by Fannie Mae and Freddie Mac, which are not quoted separately. Sources: Mortgage News Daily daily averages and the Freddie Mac survey. APR estimates use industry-standard fee uplifts. National averages for illustration only, not a commitment to lend; your rate depends on credit, loan amount, property and full underwriting.

From Debbie

After seven straight weekly increases, the Freddie Mac survey finally stopped climbing. It came in at 7.40% on Thursday, the same as the week before.

Rate sheets did better than that. Lenders finished last Friday at 7.48% and finished today at 7.37%, with the biggest drop on Thursday. That is why your rate sheet beat the headline rate this week instead of trailing it.

Here is the strange part. Wednesday’s inflation report came in hotter than expected, and that usually pushes rates up. For about half an hour it did. Then the stock market had its worst day in more than two months, mostly on worries about tech companies, and money moved into bonds. The 10-year Treasury, the number your mortgage rate follows, went from 5.24% last Friday to 5.09% today.

So I would be careful with this one. The improvement came from nervous stock markets, not from inflation getting better, and that kind of move can turn around quickly. Rates already ticked up a little today. If you were quoted a rate last week, though, it is worth asking for a fresh one.

There was no live show this week, so below I have pulled a few minutes from September that I think matter even more now.

— Debbie

From the show

Waiting for rates to drop? Do this instead.

A lot of people have spent the last few years on the fence, waiting for rates to fall before they buy. Some of them are still waiting.

Start with the payment, not the rate. Know the monthly payment you can actually make, do your homework, and be sure it will not stretch you, whether you are buying on your own or as a couple.

Then decide. Getting into a home you have budgeted for beats doing nothing while you wait on a number nobody controls.

I talked about this on the September 9 show, along with what really moves mortgage rates and what does not.

Recorded September 9, 2026. Market conditions and interest rates have changed since. General education, not a rate quote, financial advice or a commitment to lend.

Home equity

Need cash? Don’t give up your low rate to get it.

A lot of you are sitting on two things at once: real equity in your home, and a first-mortgage rate you would never get again. If you need money for a remodel, a pool, tuition, or to pay off higher-interest debt, refinancing your whole mortgage to get it usually makes no sense right now.

There are two ways to borrow against your home and leave that first mortgage exactly where it is. A home equity line of credit works like a credit line you draw from as you need it. A fixed-rate second mortgage gives you one lump sum with a set payment. Lines of credit usually move with the prime rate, so this is a good time to compare the two side by side.

I built a quick calculator on my site that shows roughly how much of your equity you could access, using your own numbers. It takes ten seconds and does not touch your credit.

For your parents

Worried about Mom and Dad’s retirement?

A lot of the reverse mortgage calls I get don’t start with the homeowner. They start with a son or daughter who is worried that their parents are house-rich and cash-tight.

If your parents are 62 or older and most of what they have is tied up in their home, a reverse mortgage may be worth understanding. They keep the title and keep living there, with no required monthly mortgage payment. Their property taxes, insurance and upkeep stay theirs. It is not right for everyone, and I will say so if it isn’t.

The best first conversation includes the whole family, so everyone hears the same information. Send this to them, or book a call together.

Talk to me Debbie Marcoux Mortgage Mom · NMLS #237926 · on air Wednesdays 3PM PT

If something in here raised a question, ask me. You do not have to be ready to buy, you do not need paperwork, and there is no application involved. Most of what I do all day is answer questions for people who are still figuring it out.

Pick a time that works for you and we will talk it through.

Where I can help. Licensed in Arizona, California, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Nevada, North Carolina, Oregon, Tennessee, Texas and Washington. If you are buying somewhere else, tell me anyway and I will say so straight away.

Send me your scenario.

I will run your actual numbers for your actual situation. No pressure, no application.

Debbie Marcoux, NMLS #237926 · JMJ Financial dba Mortgage Mom Radio, NMLS #167867 · Equal Housing Lender. Licensed in AZ, CA, CO, FL, GA, HI, ID, IL, NV, NC, OR, TN, TX, WA.

Debbie Marcoux is a licensed mortgage loan originator. She is not a financial advisor, investment adviser, tax professional or attorney, and nothing in this newsletter is financial, investment, tax or legal advice. Consult your own professional about your particular situation before acting.

For illustrative and educational purposes only. Not a commitment to lend. Rates, terms and eligibility subject to underwriting approval and change without notice.