In this episode of The Vault, host Amelis Long sits down with Patty Gong, Managing Director, Mortgage to talk about what homebuyers and homeowners can expect in 2026. Patty explains how mortgage rates have stabilized around 6% after the dramatic swings of the pandemic years, offering some welcome predictability for buyers. While affordability and limited inventory are still challenges, home price growth has slowed to a more moderate pace, and wages are expected to outpace inflation - all signs of a gradually balancing market.
Patty also discusses how the “lock-in effect” has kept some homeowners from selling, while increased building activity is helping add inventory and shift a bit more negotiating power back to buyers. Her key advice: be flexible, be patient and partner with a trusted loan officer. Whether you’re refinancing, buying your first home, or planning your next move, this episode offers practical guidance to help you navigate today’s evolving housing market with confidence.
To learn more about mortgages from FNBO, visit fnbo.com/personal-banking/mortgage-loans.
*Member FDIC, Equal Housing Lender
Chapters
(00:00) Welcome to The Vault
(00:29) Meet Patty Gong
(01:24) 2026 Market Snapshot: Affordability and Availability
(02:06) Why 0.25% Matters More Than You Think
(02:44) The Real Drivers Behind Mortgage Rates
(05:01) Where Rates are Headed in 2026
(06:22) The Lock-in Effect and Why Inventory is Tight
(07:54) From Bidding Wars to Negotiation: Buyer Power Returns
(09:35) Smart Buying Strategy: Patient, Flexible, Prepared
(14:15) Wages vs inflation: What it Means for Your Budget
(15:09) Refinance Check: When it Makes Sense
(16:23) Down Payment Myths and Help you Might Qualify For
(17:03) Real Example: Getting Buyer-ready Over Time
(17:54) 3 Takeaways for Buying in 2026
(18:44) Final Thoughts
Podcasts are for informational purposes only and not intended to provide specific advice or recommendations. When making decisions about your financial situation, consult a financial professional for advice. Podcasts are not regularly updated and information may become outdated.