This is catching the MOAM's attention today….. the 30-year mortgage rate finally blinked. It dipped to 7.32%, the first weekly drop in Freddie Mac's survey since late August. Here's this week's short video with the real numbers for Marblehead and Nahant, plus one practical tip from a guy who sells houses and builds things. No hype, no made-up stats. If I can't source a number, you won't see it.
This week's numbers
Mortgage rates (Freddie Mac PMMS®, U.S. weekly averages as of Thursday, Oct. 22, 2026)
- 30-year fixed: 7.32%, down from 7.40% last week. A year ago it was 6.19%.
- 15-year fixed: 6.68%, down from 6.71%. A year ago it was 5.44%.
Per Freddie Mac's historical data, that's the first week-over-week decline in the 30-year since August 20, after two weeks at 7.40%, this year's high so far.
Source: Freddie Mac Primary Mortgage Market Survey · PMMS history CSV
A quick reality check: on a $600,000 30-year loan, principal and interest runs about $3,671 a month at 6.19% and about $4,122 at 7.32%. That's roughly $451 more a month than a year ago, before taxes and insurance, but about $32 less than last week. (My own arithmetic at the Freddie Mac average rates. Your actual rate depends on your lender and your loan.)
Marblehead, single-family, September 2026 (Massachusetts Association of REALTORS®), still the latest month posted
- Median sale price: $1,127,500, up 15.6% from $975,000 in September 2025
- Closed sales: 14 (20 a year ago). Small sample, so one month can look extreme.
- Homes for sale: 28 (down 15.2%)
- Months of supply: 2.0
- Cumulative days on market: 53 (36 a year ago)
- Sellers received 93.0% of original list price (99.3% a year ago)
Source: MAR Local Market Update, Marblehead, September 2026 (MLS PIN data, provided by MAR)
Nahant, single-family (MAR, September 2026 report): this week's rotating town spotlight. September had just one single-family sale, so these are mostly year-to-date figures.
- Year-to-date median sale price: $1,018,000, up 19.8% from $850,000
- Year-to-date closed sales: 15 (27 at this point last year)
- Homes for sale: 15 (14 a year ago)
- Months of supply: 4.8 (4.2 a year ago)
- Year-to-date cumulative days on market: 74 (58 last year)
- Year-to-date, sellers received 93.0% of original list price (98.6% last year)
Source: MAR Local Market Update, Nahant, September 2026
So what does it mean? Marblehead is still tight at about two months of supply, but homes are sitting longer and sellers are giving up more off their first asking price. Nahant has nearly five months of supply, the most of any town we've covered on this show, and buyers there have real room to negotiate. A small rate dip won't change the math overnight, but if it keeps sliding, expect more buyers off the sidelines before the holidays.
The broker-who-builds tip: old wiring and your insurance
If a home inspector finds knob-and-tube wiring, or an old Federal Pacific or Zinsco electrical panel, a lot of insurance companies won't write the policy, or they'll charge more, until it's dealt with. Buyers: get your homeowner's insurance quote early in the inspection window, not the week before closing. Sellers: have a licensed electrician take a look before you list, so it doesn't blow up the deal later.
This tip is general information, not a substitute for a home inspection, and it doesn't replace advice from a licensed electrician, inspector or insurance agent. If you're planning repairs before a sale, I hold MA Construction Supervisor License CS-047636 and can talk through what's worth fixing.
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Or call or text me at 781-727-6516. I'm available seven days a week.
John Nestor, Nanepashemet Real Estate Services, MA Broker Lic. #136995-RE-B · 328 West Shore Drive, Marblehead, MA 01945 · 781-727-6516 · nanepashemet.com. Renovations: John Nestor, MA Construction Supervisor License CS-047636. Equal Housing Opportunity.
MOAM Out.
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