Fore! 7% Rates Are Back: Don’t Double-Bogey Your Home Purchase

Fore! The 30-year fixed mortgage rate just crossed 7% for the first time since January 2025, and buyers across Chicagoland and Northwest Indiana are asking the same question: do I wait, or do I play it where it lies? In this episode, mortgage lender Tony Perri Jr. and real estate pro Tony Mitidiero break down why rates jumped after the Fed’s September hike and a record-setting run in the 10-year Treasury, what it does to your monthly payment, and the strategies buyers are using right now: adjustable-rate loans, seller concessions and rate buydowns, and knowing when a house is worth the stretch. We also hit our rapid-fire “Big Deal / Not a Big Deal” round on what’s worth worrying about this week, and what’s just noise from the headlines. With the CPI report out on episode day and the next Fed meeting October 27-28, this is the right week to get your game plan straight. No 3-putts, no panic. Just a clear read on the green. Ready to run your numbers? • Tony Perri Jr. (mortgage): applywithjr.com | cell 630.284.9729 | TeamJr@novushomemortgage.com | NMLS #52423 • Tony Mitidiero (real estate, eXp Realty): tony@tonymitidiero.com #mortgage #realestate #rates #loan #homebuying