End of October 2026 Market Update: Rates Dip to 7.32% as Inventory Keeps Growing

Here is the late-October picture, straight from this week's numbers: the 30-year fixed-rate mortgage averaged 7.32 percent for the week ending October 22, according to Freddie Mac, down from 7.40 percent the week before. It is the first meaningful downward move since rates climbed through September, and it is worth a closer look even though a single week does not make a trend. A year ago the same loan averaged 6.19 percent, so today's rate is still a real cost, but the direction has finally turned.

Rates: the first real dip in weeks

Eight basis points is a small move, but it breaks a pattern. Through September and the first half of October the 30-year fixed climbed steadily, then held at 7.40 percent for two straight weeks. The week of October 22 brought it back to 7.32 percent. Nobody can promise where rates go next, and one reading should never drive a life decision on its own. But for buyers and sellers who were waiting for any sign of a ceiling, this is the first week in a while that pointed down instead of sideways.

The Valley numbers: prices steady, supply still building

The price story across the Valley remains one of holding steady while inventory grows. In Corvallis, the median sales price reached $617,900 in August and the year-to-date 2026 median is about $602,500, roughly 4.8 percent above the same period in 2025, with the typical home value near $565,000, essentially flat. Albany runs cooler: Redfin's three-month median sits near $441,000, down about 4 percent from a year ago. Salem's median sold price over the last six months is $438,000 at about $258 per square foot, with the middle half of sales closing between roughly $360,000 and $535,000. Across the Valley, active listings have climbed about 6.5 percent over last year, Corvallis is running at roughly 3.5 months of supply, and Albany sits near 4 months. That is a balanced, buyer-friendlier market than anything we have seen in years.

What this means for buyers

More inventory, more time to compare, and a rate that has finally ticked down. The buyers doing well right now are the ones who know their monthly number before they start touring, because even a small rate move changes what a given price costs per month.

I worked through the monthly math on a typical Valley home in this article .

What this means for sellers

Homes that are priced against this month's comparable sales and presented well are still moving; homes priced at last spring's level sit. With supply up across the Valley, the margin for overpricing is thinner than it has been. Winter is coming, and for a well-prepared home, less competition in November and December can be an advantage. If you are weighing whether to list now or wait for spring, that is a conversation worth having with your real numbers in hand.

I walk through the timing question in this article , and I am glad to help you think through your own situation.

Get the numbers for your home

These are market-wide figures, and every neighborhood is its own market. If you want to know what your place is actually worth today, or what the market looks like for the home you want to buy, that is exactly the kind of conversation I am here for.

Request a home value or start a conversation and I will get back to you with a straight answer. No pressure, just the numbers.