Oklahoma Mortgage Group - Mike David

  When buyers compare homes, the asking price naturally receives most of the attention. But the monthly cost of owning a home involves more than its price. ATTOM’s third-quarter 2026 report estimated that the major expenses associated with a nationally median-priced home would consume 31.8% of a typical worker’s wages. The report included mortgage payments, property taxes, homeowners insurance and mortgage insurance in its calculation. It also found that affordability was worse than historical norms in 98% of the counties analyzed. attomdata.com Those are national findings based on standardized assumptions—not a measurement of an individual Tulsa buyer’s qualification. The practical lesson is that every property needs its own payment review. What belongs in the comparison? A complete housing-payment estimate may include: Principal and interest Property taxes Homeowners insurance Mortgage insurance HOA dues Other required property expenses The down payment, loan program and interest...

  Mortgage rates finally showed a little improvement late last week. After several weeks of increases, mortgage-backed securities began recovering some of their losses, and daily national mortgage rates moved lower. That was encouraging. But buyers should be careful about assuming a few better trading sessions mean mortgage rates are headed significantly lower. This week brings two important inflation reports that could quickly change the direction of the mortgage market. There is also a fresh housing-market story that may be particularly useful for buyers. More homes are available nationally, even though fewer sellers are listing. That combination tells us quite a bit about where the market stands as we move further into October. Mortgage Rates Improved Late Last Week Freddie Mac reported that its national average 30-year fixed mortgage rate reached 7.40% on October 8 , up from 7.28% the previous week. That marked the seventh consecutive weekly increase. AP News However, Freddie M...

September’s jobs report looked like the kind of economic news that should help mortgage rates. The U.S. economy added only 29,000 jobs in September . Unemployment increased slightly to 4.2%. Wage growth slowed to 3.0% over the past year, and July and August payrolls were revised lower by a combined 60,000 jobs. Bureau of Labor Statistics Mortgage rates briefly improved Friday morning. Then the improvement disappeared. Mortgage News Daily’s national 30-year fixed index ultimately finished Friday at 7.57% , close to its highest level in years. Mortgage News Daily That may seem contradictory, but it tells us something important about the mortgage market right now. The Fed Is Only One Piece of the Mortgage Rate Puzzle The Federal Reserve controls a very short-term overnight interest rate. A 30-year mortgage is a long-term financial instrument. That means mortgage rates are influenced much more directly by mortgage-backed securities and longer-term Treasury bonds. Early this week, the 10-ye...

  Mortgage rates took a meaningful step higher last week, and this week may be even more consequential. The combination of rising oil prices, persistent inflation and changing expectations for Federal Reserve policy pushed Treasury yields sharply higher. The 10-year Treasury finished last week near 5%, and mortgage pricing deteriorated along with it. For Tulsa-area buyers and Realtors, the important question is not simply, “What are rates today?” It is: Why did rates move, what could happen next, and what can we actually control? Mortgage Rates Moved Higher—Fast Freddie Mac reported that its national average 30-year fixed mortgage rate increased to 6.76% on September 10 , up from 6.71% the previous week. GlobeNewswire But Freddie Mac’s weekly survey does not fully capture what happened later in the week. Mortgage News Daily’s more immediate daily index finished Friday around 7.12% , after rates rose almost one-quarter of a percentage point during the week. Monday morning’s bond mar...

  Tulsa Makes National Headlines Again A recent national article highlighted Tulsa as one of the few cities where buyers can still find homes priced under $100,000. While these homes are often fixer-uppers or located in specific neighborhoods, the recognition reinforces something local buyers already know: Tulsa remains one of the most affordable housing markets in America. Why Tulsa Stands Out Across much of the country, entry-level housing has become increasingly difficult to find. In Tulsa, buyers still have access to affordable housing options that simply do not exist in many major metropolitan areas. Current market data shows Tulsa home values remain significantly below the national average, helping preserve affordability for first-time buyers and investors alike. Inventory has also increased in 2026, giving buyers more choices than they have had in several years. Opportunities for Buyers Affordable housing creates several opportunities: First-Time Homebuyers Many buyers who b...