Mortgage Mom Radio Weekly - October 30, 2026

Friday, October 30

0.03%

between the rate on the news and the rate on your sheet

Freddie Mac published 7.24% yesterday morning, down from 7.32% the week before. Lenders were quoting 7.27% today, down from 7.33% a week ago. The headline is running just a little below what lenders are actually quoting, so expect your sheet to come in a touch higher than the news.

Freddie Mac PMMS, October 29, 2026, and Mortgage News Daily, October 30, 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 30, 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

Rates eased again this week. The Freddie Mac survey fell to 7.24% on Thursday, and lenders were quoting 7.27% today, the lowest average rate sheet since September 23.

The Fed held rates on Wednesday, and mortgage rates barely noticed. What moved them came after: big tech companies gave weaker outlooks, tech stocks slid, and money moved into bonds, which pulls rates down. On Thursday the 10-year Treasury, the number your mortgage rate follows, closed at 4.98%, down from 5.05% the day before.

I would still be careful. The Fed said inflation remains elevated, and two members wanted to raise rates, not hold them. A drop driven by nervous markets can turn around just as fast. If you are buying or closing soon, get a fresh quote, and if you like it, ask your lender about locking rather than waiting on the Fed.

— Debbie

On the show this week

The Fed held. Here’s what it means for your mortgage.

The Federal Reserve left rates where they were on Wednesday. The part most headlines skipped: the vote was 10 to 2, and the two members who disagreed wanted to raise rates, not cut them. The Fed also said inflation remains elevated. In plain English, the Fed paused, but it did not say it is done.

The Fed does not set your mortgage rate. It sets a short-term overnight rate. Your mortgage rate follows the 10-year Treasury, which moves on inflation and the economy. That is why the Fed did nothing on Wednesday and mortgage rates barely moved.

If you have a home equity line, it most likely follows the prime rate, and prime only moves when the Fed moves. It did not change this week, but it could if the Fed raises in December.

On the show I also covered what this means if you are buying, thinking about locking, or looking at an adjustable-rate loan.

Source: Federal Reserve statement, October 28, 2026. General education, not a rate quote, a prediction 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.