Will mortgage rates come down? As of October 20, the 30-year sits around 7.4%. That's better than three weeks ago and worse than a year ago, and it keeps coming back to one thing: U.S. debt.
In this clip from Market Update 196, Mike Mills breaks down what moved rates this past week, why AI companies are now competing with mortgage bonds for the same investors, and the three ways rates come down in any real way (and what each one costs).
Full episode: https://youtu.be/i7wKgnDZIzk Podcast: https://www.thetexasrealestateandfinancepodcast.com/stale-listing-strategy
Chapters
0:00 Ask AI what rates are
0:17 Mortgage rates as of October 20
1:22 What moved rates down this week
1:44 The NASDAQ drop and the 10-year
2:17 AI is chasing the same investors
2:28 How rates actually come down
3:16 The 3 ways rates come down
4:00 What you can control
Mortgage rates (Mortgage News Daily Index, as of October 20, 2026) 30-Year Fixed Conventional: 7.40% 15-Year Fixed Conventional: 7.05% 30-Year FHA: 7.02% 30-Year VA: 7.04% 30-Year Jumbo: 7.65%
These are average market rate index numbers from Mortgage News Daily and may not reflect the specific rates you qualify for. Mortgage rates vary widely depending on your credit score, loan type, down payment, and more. Talk to a licensed mortgage professional, like Mike, or your lender.
Contact Mike: mike@mikemillstx.com | 817-689-6079 Mike Mills, NMLS #756263 · GVC Core Community Mortgage · NMLS #2334
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