Rates hit 7.57%. Here's what changes for your buyers this month.

The 30-year fixed closed at 7.57% on October 2 — up from 6.89% when the last issue went out. Here's what that changes for your buyers this month, plus a THDA timing issue worth building into every contract you write right now.

Tri-Cities Market Pulse: Pricing Still Decides the Sale

Redfin's August numbers show Johnson City's median sale price at $329,782, up 9.9% from a year earlier, with homes selling in a median of about 41 days — and even there, the typical sale closed roughly 2% under list (Redfin, Johnson City). That's the reusable line for a seller who wants to "test the market" high: in the region's hottest market, buyers are still negotiating. Full breakdown in my August market report.

On rates, the 30-year fixed closed at 7.57% and the 15-year at 7.19% on October 2, per Mortgage News Daily. The line for a buyer who wants to wait: prices historically don't wait for rates, and a meaningful drop tends to pull a wave of buyers back at once, like the COVID years. A lower rate on a higher price can mean the same payment or worse. Buying now and refinancing later if rates fall is often the stronger position.

Sources: Redfin housing market data, Johnson City, TN (August 2026); Mortgage News Daily rate index, October 2, 2026. Analysis by Sam Timlick, mortgage loan officer in Johnson City, TN.

Mortgage Strategy: Give THDA Files a Real Buffer

THDA says its underwriting turn time on complete files is currently about one week, and it warned lenders in late September that loans not already in its underwriting queue by September 22 were unlikely to close that month (THDA lender page). The practical move: on any THDA deal, write a closing date with room for that review plus conditions, and steer clear of month-end when volume spikes. Complete files move fastest — anything missing sends the file back through the queue. Call me before you set the date and I'll tell you what's realistic that week.

Loan Program Note: Relocated Manufactured Homes

Freddie Mac's Bulletin 2026-12, effective September 2, now allows conventional financing on a manufactured home that was moved from another site — as long as a licensed professional engineer (or the right government authority) verifies its structural integrity, it isn't sitting in a stricter wind, roof-load, or thermal zone than it was built for, and loan proceeds don't pay for the move or setup. For rural listings across East Tennessee, that's worth knowing before you tell a buyer a listing "can't be financed." Every file still has to qualify on its own — send it my way and I'll check it.

Local: Brickyard Village Opens in Kingsport

The former brick plant in Kingsport is now Brickyard Village, a planned community with a first phase of 32 single-family homes priced from about $465,000 to $578,000, with more phases proposed (WJHL). The grand opening is Saturday, October 10, 11 a.m.–2 p.m. on Brickyard Park Drive, with home and lot tours. For move-up buyers, it's new inventory worth touring — with a current pre-approval in hand.

Quick FAQ

National Agent Mastermind: Back November 17

There's no National Agent Mastermind session in October. The next live session is Tuesday, November 17 at 3:00 PM Eastern — the topic hasn't been announced yet, but registration is already open at agentanimals.com/samtimlick. It's free, and I sponsor it every month.

Coming Up in the Tri-Cities

Downtown Kingsport Restaurant Week runs October 5–11, and the Haunted Hot-Rods Car Show fills the Kingsport Farmers Market on Saturday, October 10 — the same day as the Brickyard Village opening (Kingsport Scoop).

Got Buyers Who Need Financing?

The best clients I've ever worked with came from someone saying, "you should call Sam." If you've got buyers who need financing — first home or fifth, ready now or just starting to think about it — I'd be honored to work with them. I'll treat them like family and keep you in the loop the whole way. More on how I work with agents at samtimlick.com/for-agents.