Mortgage rates peaked mid-week before pulling back slightly. Rates hit a high of around 6.64% before easing approximately 0.23% by week's end as some geopolitical tensions showed early signs of stabilizing.

The Iran conflict and oil price volatility remain the primary driver of rate movement. When oil prices rise inflation expectations follow and mortgage rates move higher. When investors see potential economic weakness or signs of de-escalation bonds improve and rates ease slightly.

For Buffalo buyers this week was a reminder that rates can move significantly in both directions within a single week. The underlying uncertainty has not gone away and next week's CPI inflation report will be closely watched by the bond market.

On paper the 15 year mortgage looks like the obvious choice. Lower interest rate, less interest paid over time, and the home is paid off in half the time.

But the math only tells part of the story.

A 15 year mortgage comes with a significantly higher monthly payment. That payment is locked in regardless of what life throws at you. Job change, medical bills, family expenses… your obligation stays the same whether you are ready for it or not.

A 30 year mortgage gives you something the 15 year cannot. Flexibility.

The monthly payment is lower and manageable. And if things are going well you can make extra payments and knock years off the loan. Depending on consistency some buyers can pay off a 30 year mortgage in 23 to 25 years without ever being locked into the higher obligation of a 15 year term.

With a 30 year you can always choose to pay more. With a 15 year your higher payment is required every month.

Both loans can be refinanced later as goals and market conditions change. But in the meantime the 30 year gives buyers room to adapt without being locked into an obligation they may struggle to meet if circumstances shift. The right loan is not always the one that looks best on paper. It is the one that fits the buyer's life.

When a buyer brings up the 15 year mortgage try asking one question before responding.

"How stable do you expect your income to be over the next five years?"

That single question shifts the conversation from math to reality. Most buyers have not thought past the interest savings. Once they do the right loan structure becomes much clearer.

You do not need to have all the answers. That is what their lender is for. But asking the right question early makes you the most valuable person in the room.

The chart below tracks the 10-Year Treasury yield, a key indicator I monitor to gauge short-term pressure on mortgage rates. When yields rise, mortgage rates typically follow. When yields ease, mortgage pricing tends to stabilize.

Each week the Buffalo Mortgage Market Brief highlights a real estate professional actively working in the Western New York housing market.

This week's WNY Agent Spotlight features Donna Hutton with HUNT Real Estate, based out of the Lockport office.

With nearly two decades of experience in the Western New York market, Donna Hutton brings a steady, client-first approach to every transaction. Based in Wheatfield and serving the surrounding Niagara County areas, she’s known for her strong communication, local expertise, and ability to guide both buyers and sellers through the process with confidence. Whether it’s helping first-time buyers get comfortable or positioning a home to sell effectively, Donna focuses on making each step clear, smooth, and successful for her clients.

📍 Areas served: Wheatfield, Lockport, and Niagara County

Know a great agent making an impact in WNY? Reply to this email to nominate them for a future spotlight.

Troy Pulli | HUNT Mortgage

This newsletter is for informational purposes only and does not constitute financial or lending advice.