Tuesday, October 20, 2026

A Note From Tim Powers

🏡 Tuesday Market Update: More Inventory, More Negotiating Power & More Opportunities!

Happy Tuesday, Partners!

Hope everyone had a fantastic weekend!

While mortgage rates have been challenging lately, there are some real opportunities developing in the housing market. The agents who recognize those opportunities, reconnect with their buyers, and offer creative solutions are the ones who can keep putting deals together!

Here's what's happening and how we can turn it into more business.

📈 THIS WEEK'S MORTGAGE MARKET UPDATE

According to Freddie Mac's October 8 report:

30-Year Fixed: 7.40% national average, up from 7.28% the previous week.

15-Year Fixed: 6.73% national average, up from 6.60%.

Market Outlook: Inflation concerns and rising bond yields continue to pressure mortgage rates.

These are national survey averages for well-qualified conventional borrowers, not individual rate quotes. Actual rates and costs depend on credit, down payment, loan program, market conditions, and other factors.

The good news? Buyers have something they haven't had much of in recent years: MORE NEGOTIATING POWER!

🏠 ARIZONA & WASHINGTON MARKET OPPORTUNITIES

Phoenix / Scottsdale Area

Phoenix-area buyers are seeing more choices. September active listings increased approximately 7.5% year over year, and nearly 29% of listings had price reductions.

That creates opportunities to negotiate seller concessions, closing-cost assistance, and potentially mortgage rate buydowns.

Washington State

Northwest MLS reported a 24.5% increase in active listings compared with September 2025, while pending sales declined 15.1%.

More inventory and less competition can mean opportunities for buyers who were previously frustrated by bidding wars.

The takeaway: A higher interest rate doesn't necessarily mean a buyer can't find a better overall deal!

💰 3 WAYS TO GENERATE MORE BUSINESS THIS WEEK

1️⃣ Reconnect With Buyers Who Put Their Search on Hold

Reach out to buyers who stopped looking because of rates or affordability.

Try saying:

"I know you stepped back from buying, but we're seeing more inventory and sellers willing to negotiate. Would you be interested in seeing what we could put together with some creative financing?"

You might be surprised how many buyers are willing to reconsider!

2️⃣ Turn Price Reductions Into Financing Opportunities

When you see a listing that's been sitting or has recently reduced its price, let's look at the numbers.

Sometimes negotiating seller-paid closing costs or a temporary rate buydown can improve a buyer's initial cash flow more than an additional price reduction.

I'll gladly help you put together payment comparisons to present to your buyers.

3️⃣ Don't Give Up on Buyers Who Were Previously Declined

A buyer who was turned down by one lender isn't necessarily out of options.

Self-employed borrowers, commission income, credit challenges, unusual employment situations, and buyers needing alternative financing may have solutions worth exploring.

Before you give up on a transaction, give me a call!

⭐ ALREADY PREAPPROVED? LET ME TAKE A SECOND LOOK!

This is something I encourage every agent to consider.

Just because your buyer has a preapproval letter doesn't mean they have the best financing available.

With more than 20 years in the mortgage business and access to 150+ lenders, I can compare programs, pricing, and financing structures that may not be available through their current lender.

A second look could potentially mean:

✅ A more competitive interest rate or lower closing costs.

✅ A lower monthly payment through a different financing structure.

✅ Additional purchasing power.

✅ Access to alternative loan programs.

✅ Identifying potential financing issues before they jeopardize your closing.

And sometimes, I'll confirm that your buyer already has an excellent loan option.

Either way, you and your buyer benefit from knowing you've explored the options.

My goal isn't to complicate your transaction. It's to help you protect it, deliver outstanding service, and get more clients to the closing table.

🚀 LET'S TURN OPPORTUNITIES INTO CLOSINGS!

Here's my challenge for this week:

Reach out to five past buyers who never purchased and five current prospects who might benefit from a financing review.

That's 10 opportunities to start conversations that could turn into your next transaction!

If you have a buyer who is already preapproved, needs a second opinion, or has a challenging scenario, I'd love the opportunity to help.

Send me their scenario, call me, or introduce us by email. I'll take it from there!

Let's make it a productive week, help more families become homeowners, and get some deals closed!

Have a fantastic week!

Tim Powers

These are national mortgage index rates as of October 20, 2026, plus our pricing adjustment. The 30-year fixed is at 7.83% — down 0.04% from last week, FHA at 7.13%, and VA at 7.08%. For exact rates tailored to your buyers, reach out to your loan officer directly.

Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment

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