Why You Should Ask For A Rate Buydown Today

Name: Dan Ardis
Address: Bakersfield, CA, 93314, US
Telephone: (661) 342-9381
Price range: $$$
Rating: 5

October 30, 2026 1:58Dan Ardis, NMLS# 1412272

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Mortgage rates just hit their lowest level of the month, but two Fed members voted for another rate hike this week. If you're under contract or close to it, this could be a smart window to lock. On a $400,000 loan, every quarter point is worth about $68 a month, and buying new construction gives you extra leverage to put builder incentives toward a rate buydown.

30-year fixed mortgage rate: 7.24% per Freddie Mac, the lowest level this month.

Key Points from This Video

Fed Funds Rate: Held steady after September's quarter-point hike. Two members dissented in favor of another hike, so more rate relief isn't guaranteed.
Headline PCE inflation: Up 3.6% year over year. Still well above the Fed's 2% target.
Core PCE inflation: Up 3.1% year over year. Underlying inflation is still sticky.
New home sales: Down 0.6% in September to a 676,000 annual pace, beating expectations but down 5.3% from last year. Builders have room to negotiate.
Median new home price: Down 3.9% year over year, mostly because more homes sold in the $300K to $400K range. This doesn't mean values are falling.
Case-Shiller home prices: Up 2.1% nationally over the past year. Prices are still rising, just slower.
Q3 GDP: Grew at a 3.4% annualized rate, up from 2.2% in Q2. A strong economy can keep rates elevated.

Dan Ardis

Senior Mortgage Loan Originator, NMLS# 1412272

Barrett Financial Group, Bakersfield CA

Dan Ardis is a Bakersfield-based mortgage broker with 20+ years in the industry, including experience as a Senior Specialty Underwriter. He originates residential and commercial loans for Kern County clients and in 49 states through Barrett Financial Group.

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