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Mortgage Market Update
Nicholas do Carmo
Barrett Financial
Tuesday, October 20, 2026
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The number you see isn't the whole picture |
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Hi there—this week I'm breaking down something that trips up a lot of people when they're comparing mortgages.
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National Mortgage Rates · October 16, 2026
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Conventional 30-Year
7.28%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Mortgage Basics
Why your monthly payment might not tell the whole story
When you're looking at a mortgage, the monthly payment number is what catches your eye first. But that number doesn't live alone—it's tied to how long you're borrowing, what rate you lock in, and how much you're putting down. Two borrowers with the same monthly payment can actually owe very different amounts by the end, or pay very different totals in interest. Understanding what's behind that payment helps you make smarter choices about which loan structure actually works for your situation. If you've ever wondered whether a lower payment now means you're getting a better deal overall, that's worth a conversation. Let's talk about what your numbers really mean for your finances.
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Tip of the Week
Your loan officer can run a credit simulator to show exactly which actions will move your score the most.
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Tips for Homeowners
Year-End Tax & Mortgage Planning
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1.
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Consider making your January mortgage payment in December to get an extra month of deductible interest in the current tax year (consult your tax advisor first).
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2.
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If you plan to sell next year, now is a good time to document improvements — receipts and records add to your cost basis and reduce taxable capital gain at sale.
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3.
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Review your W-4 withholding if you bought a home this year — your mortgage interest deduction may mean you're having too much withheld from each paycheck.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Nicholas do Carmo team any time and we'll walk you through your options. |
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