Getting the Best Mortgage Rate in 2026

Broadcast Retirement Network's Jeffrey Snyder discusses how to get the best mortgage rate in 2026 with real estate expert Deidre Woollard.

Jeffrey Snyder, Broadcast Retirement Network

Deidre, welcome back to the program. It's great to see you and happy new year. Happy new year.

It's been a bumpy ride for mortgage rates. What can we expect, do you think, in 2026? Still above 5%?

Deidre Woollard, Real Estate Expert

Yeah, definitely still solidly above 5%. You know, this is the time of year where we see all the forecasts and most of them are saying maybe low sixes. Low sixes for the year, possibly high fives, but mostly around the low sixes.

Jeffrey Snyder, Broadcast Retirement Network

And what factors go into a mortgage rate? Like if I go to lender A, lender B, lender C, what determines the rate that I get from each of the lenders?

Deidre Woollard, Real Estate Expert

Well, they tend to be around the same level. So, you know, it depends on your personal status as a borrower to some extent, but the rates are going to be mostly the same. People think that the Fed funds rate influences it, and it does to some extent.

But really, it's the 10-year Treasury. And the forecast for the 10-year Treasury, like the forecast for mortgage rates, seem to be relatively stable over the next few years. So, we're not expecting to see a lot of volatility, which means we're not going to see a lot of different rates.

We advise you to shop around, but you're still probably going to be within a certain range around 6%.

Jeffrey Snyder, Broadcast Retirement Network

And Deidre, does it matter where I lived? Is it a geographic rate? So, if I live in Charlotte, North Carolina, where I do today, you live in Virginia, are our rates going to be that different?

Deidre Woollard, Real Estate Expert

No, what's going to be different is the housing prices. So, your affordability will be different, but it won't be as much based on the mortgages. I mean, there is some credit unions that are local, some local banks may have different rates.

And so, there's a little bit of wiggle room in there, but it's not specifically geographic.

Jeffrey Snyder, Broadcast Retirement Network

And you mentioned home prices. Let's talk about that. Where are home prices today and where are they expected to be in 2026?

Is it still a buyer's market?

Deidre Woollard, Real Estate Expert

It is still a buyer's market. We're expecting, the forecast that I've seen, rates moving up, maybe the home price is moving up around 2% nationally. But what we're seeing really is the buyer's market you've talked about, more houses coming on the market.

And that's the really important factor here, is that it's going to ease up. But we still have that problem where a lot of the sellers, they're very anchored to the price they want to get. And so, that may mean that unfortunately, there's a little bit of a divide there that hopefully will ease up a bit.

Jeffrey Snyder, Broadcast Retirement Network

Yeah. And I would imagine not much wiggle room for negotiation. You know, people are willing to hold on to their homes longer.

What do you do if you're a first-time buyer?

Deidre Woollard, Real Estate Expert

Be patient. First thing I say, especially for getting a good mortgage rate, is know what you want to pay, prepare first, make sure you understand your debt-to-income ratio, and then be prepared for a little disappointment. You know, you'll make an offer, maybe you won't get the house, you try again.

It's important not to be, you know, that the one house is the house you have to have. It's a game. It's a numbers game over time.

Jeffrey Snyder, Broadcast Retirement Network

Yeah. So don't be married, quote-unquote, to a particular home. It may not be the home of your future.

I want to go back to 2025. There was some, I think, a settlement with the National Association of Realtors or between the NAR around rates that agents were charging. Has that had an impact at all on the marketplace?

Or, you know, now agents can set their own rate, or they can negotiate their own commission rate, I guess is what I'm talking about.

Deidre Woollard, Real Estate Expert

Commissions were always negotiable, but I think there's a greater awareness among buyers now that they understand where the commission for the buyer's agent comes from, and that's important. So yeah, there is a little bit more flexibility, and there's just this greater awareness of what you're paying for. And there is the ability for some buyers agents to charge, instead of getting the commission from the seller side, to actually sort of do a, you know, pay per hour or something like that.

Jeffrey Snyder, Broadcast Retirement Network

Yeah, so it's, I guess, are more agents flooding into the marketplace, or are they saying, wow, you know, this is a different world? And, you know, so is the market, are the real estate markets now underserved as opposed to being, you know, at equilibrium or above?

Deidre Woollard, Real Estate Expert

It would take a lot for the market to be underserved by realtors. We still have far more realtors than we really need, essentially.

Jeffrey Snyder, Broadcast Retirement Network

Yeah, fair enough. Deidre, I've got about a minute left, and I want to turn it over to you. We've had a long, a good conversation about mortgage rates.

What are some takeaways in terms of finding the best mortgage rate in 2026?

Deidre Woollard, Real Estate Expert

First one is prepare first, you know, get position, know what you want to spend, and know what your monthly rate is that you feel comfortable with. Because a lot of people, sometimes when they get the mortgage rate, they think, oh, I'm approved for this much, I should get that much. No, you should get what you're comfortable with, and what works for your budget.

Second thing, shop around as carefully for a mortgage rate as you do for a house. You know, that starts early. Don't be afraid to get different quotes.

Look not just at the big banks or the things that advertise to you. Talk to your local credit unions. And, you know, when you find that good rate, lock it in.

But don't wait for the right rate, because we're not going to see low dips in the next year. I mean, if we do, it means something's gone a little screwy with the economy. And then the third thing is, there are a lot of programs that I think people aren't aware of.

So for some homebuyer programs, most people are aware of, programs for veterans. But there are also smaller local programs, and they may not be, they don't advertise, but they're out there. So a great place to start researching there is your local housing authority.

Do a little digging, talk to other people in the area. You might find some things that are surprising that can really impact how much you pay, and help with down payments and things like that.

Jeffrey Snyder, Broadcast Retirement Network

Yeah, Deidre, excellent tips. And look, we certainly appreciate you coming on the program, and we look forward to having you back again very soon. Happy New Year to you.

Deidre Woollard, Real Estate Expert

Happy New Year.

Jeffrey Snyder, Broadcast Retirement Network

Well, thanks for watching. And don't forget, we're back again tomorrow morning with another great expert and another great topic. You can tune in right here, Monday through Sunday at 7.30 a.m. Eastern Time. And don't forget to subscribe to our daily newsletter, The Morning Pulse, for all the news in one place, delivered directly to your email box. Check it out at our website.