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Mortgage Market Update
Kevin Huettner
Kevin Huettner
Tuesday, October 20, 2026
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15 vs 30 years—which makes sense for you? |
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One of the most important decisions you'll make on a mortgage has nothing to do with rates. It's the length of the loan itself.
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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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Smart Money
Why your loan term matters more than you think
When you're shopping for a mortgage, the interest rate gets most of the attention—but your loan term (15, 20, or 30 years) shapes your finances in ways that matter just as much. A shorter term means higher monthly payments but you build equity faster and pay less interest overall. A longer term lowers your monthly payment, which can free up cash for other goals. Neither is automatically better; it depends on your income, your timeline, and what else you need that money for. The right choice for someone else might not be the right choice for you. If you'd like to talk through which term might work best for your situation, I'm here to walk you through it.
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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 Kevin Huettner team any time and we'll walk you through your options. |
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