Tuesday, October 20, 2026

A Note From Tim Powers

🏡 Rates Are Improving! Let's Turn November Into More Closings!

Happy Monday, Partners!

Welcome to November!

We're heading into the final two months of the year, and there's some encouraging news in the mortgage market!

Mortgage rates have declined for two consecutive weeks, buyers have more homes to choose from, and motivated sellers are creating opportunities to negotiate.

For agents who stay proactive, this could be an excellent time to turn conversations into contracts!

📉 MORTGAGE MARKET UPDATE — RATES HEADING LOWER!

According to Freddie Mac's October 29 report:

30-Year Fixed: 7.15% — Down from 7.32% last week.

15-Year Fixed: 6.60% — Down from 6.68% last week.

That's two consecutive weeks of improvement!

While rates remain higher than we'd like, the recent downward movement is encouraging. Inflation, economic reports, and bond-market activity will continue influencing rates.

These are national survey averages for conventional, conforming purchase loans involving borrowers with excellent credit and 20% down—not individual rate quotes. Actual rates and costs vary based on qualifications, loan program, down payment, points, and market conditions.

The opportunity? Buyers who stepped away just a few weeks ago may be ready for another conversation!

🏠 ARIZONA & WASHINGTON — MORE CHOICES FOR BUYERS

Phoenix / Scottsdale

September's ARMLS housing report showed approximately 25,251 active listings, up 4.4% year over year, with the median sales price holding at $450,000.

Months of inventory increased to 4.45, giving many buyers additional choices and potential negotiating opportunities.

Washington State

Northwest MLS reported a 24.5% year-over-year increase in active listings during September, while pending sales declined 15.1%.

More inventory and fewer competing buyers may create opportunities to negotiate favorable terms.

My takeaway: The right home, negotiated at the right price with the right financing, can create an excellent opportunity—even when rates aren't perfect!

💰 3 WAYS TO CREATE MORE BUSINESS THIS WEEK

1️⃣ Reconnect With Buyers Before the Holidays

Many buyers assume it's too late in the year to purchase.

Not necessarily!

Reach out to clients who stopped looking and say:

"Mortgage rates have improved recently, and we're seeing more opportunities to negotiate with sellers. Would you like us to revisit your numbers and see what's possible before the holidays?"

One simple conversation could turn into your next closing.

2️⃣ Turn Seller Concessions Into Buying Power

Have a listing that's been sitting on the market?

Instead of focusing only on price reductions, let's explore whether seller-paid closing costs, a permanent rate buydown, or a temporary buydown could make the numbers more attractive.

The best strategy depends on the buyer, loan program, and available seller concessions.

Send me the property and I'll help you compare financing scenarios!

3️⃣ Turn Your Database Into November Appointments

Here's a quick challenge:

Contact five past buyers and five prospects who haven't made a decision.

Don't just ask whether they're still interested.

Offer something valuable: updated purchasing power, estimated payments, or a comparison of financing options.

Your next commission might already be sitting in your database!

⭐ ALREADY PREAPPROVED? LET ME TAKE A SECOND LOOK!

Here's one of the easiest ways to provide additional value to your buyers.

Just because someone has a preapproval letter doesn't necessarily mean they've explored their best financing options.

With over 20 years of mortgage experience and access to 150+ lenders, I can compare loan programs, pricing, and financing structures to see whether another option makes sense.

A second look could uncover:

✅ More competitive interest rates or closing costs.

✅ Lower monthly payments through alternative financing structures.

✅ Additional purchasing power.

✅ FHA, VA, conventional, jumbo, bank statement, or other specialized loan options.

✅ Potential underwriting concerns before they threaten the closing.

Sometimes I'll find an opportunity to improve the financing. Other times, I'll confirm that your buyer already has a great option.

Either way, you're helping protect your client and your transaction.

My goal is simple: Help you provide outstanding service, solve financing challenges, and get more buyers to the closing table.

🚀 LET'S MAKE NOVEMBER A GREAT MONTH!

The agents who continue reaching out, educating their buyers, and finding creative solutions are the ones positioning themselves for success.

Here's my challenge for this week:

Send me ONE buyer who's already preapproved somewhere else, ONE buyer who previously stopped looking, or ONE challenging loan scenario.

Let's see whether we can uncover an opportunity together!

More conversations. More solutions. More contracts. More closings!

Have a fantastic week, and let's go sell some homes!

Tim Powers

These are national mortgage index rates as of November 2, 2026. The 30-year fixed is at 7.13% — down 0.07% from last week, FHA at 6.96%, and VA at 6.76%. For exact rates tailored to your buyers, reach out to your loan officer directly.

Source: Optimal Blue daily mortgage indices via FRED

From Your Lending Partner

VA Loans Are the Most Powerful Buying Tool Your Veteran Clients Have

If you're working with a veteran or active-duty service member and they're not using their VA benefit, stop everything. The VA loan is the most powerful mortgage product available — zero down, no PMI, competitive rates, and flexible qualifying. A veteran buying a $450K home saves roughly $200/month in PMI alone compared to a conventional loan at 5% down. Over seven years, that's over $16,000 — and they went in with no down payment. I work with VA loans regularly and know how to structure the offer so sellers understand it's not a burden. I provide a custom VA pre-approval letter that educates the listing agent on the process. I've closed VA loans in competitive multiple-offer situations. The stigma is outdated. If you have a buyer with a DD-214 or who's currently serving, send them my way for a no-obligation call. It will likely be the most important financial conversation they have this year.

Know a veteran who hasn't used their VA benefit? Let's get them pre-approved this week.

Mortgage News Daily

Existing Home Sales Treading Same Old Water

If you're busy, we can make this quick. Existing home sales dropped sharply from over 6m units per year starting in 2022 and had bottomed out around 4m units per year by the end of 2023. They've done essentially nothing exciting since then and the latest update is no exception. The end.  If you prefer to read an article-sized article, here you go: Existing-home sales edged higher in September

HousingWire

Proprietary reverse mortgages continue to thrive as borrowers move away from HECMs

While HECM volume fell to $880 million in Q3 2026, private-label loans totaled $1.2 billion

Mortgage News Daily

Home Prices Keep Climbing, Just Not Everywhere

Home prices picked up a little more speed in July, as both FHFA and the S&P Cotality Case-Shiller Home Price Indices showed stronger annual appreciation than in their previous readings. The gains remain relatively modest by historical standards, and while nominal prices are still moving higher nationally, the picture looks considerably less impressive after accounting for inflation. The FHFA H

Did You Know?

Asset Depletion Loans

High net-worth buyers can qualify on liquid assets alone.

Buyers with significant liquid assets but limited verifiable income — retirees, investors, the independently wealthy — can qualify using asset depletion methodology. No employment, no W-2 required.

Share With Your Buyers

Understanding Your Credit Score

Tip of the Week

Your loan officer can run a credit simulator to show exactly which actions will move your score the most.

Your Mortgage Advisor