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Mortgage Market Update
Kiro Habib
Kiro Habib
Monday, October 19, 2026
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Your payment depends on more than just the rate |
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Hi there. This week I want to talk about something that matters more than most people realize when they're shopping for a mortgage.
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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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Payment Reality
Why your monthly payment matters more than rate alone
When you're looking at mortgages, it's easy to focus on the interest rate as the main number. But here's what actually shows up in your bank account each month: your payment. And that payment is shaped by rate, loan amount, loan term, and a few other factors working together. Two loans with similar rates can feel very different month to month depending on how long you're borrowing and how much you're borrowing. Understanding what drives your actual payment—not just the headline rate—helps you make choices that fit your real budget, not just chase the lowest number. I'd be glad to walk through how these pieces fit together for your situation. Reach out if you'd like to talk through how different loan choices affect your monthly payment.
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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 Kiro Habib team any time and we'll walk you through your options. |
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