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Mortgage Market Update
Kevin Burrus
Kevin Burrus
Tuesday, October 20, 2026
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The part of your payment that builds wealth |
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Hello! Each week I share what's on my mind about mortgages, money, and homeownership. This week, let's talk about something that works quietly in your favor.
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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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Equity Building
How your mortgage works for you over time
Every payment you make builds equity—that's the portion of your home you truly own. Early on, most of your payment covers interest, so equity grows slowly. But as time goes on, more of each payment goes directly toward ownership. If life circumstances change and you need cash—whether for home improvements, education, or an emergency—that equity becomes an option. Understanding how your equity grows helps you see your mortgage not just as a debt, but as a wealth-building tool. I'd be happy to walk you through where you stand or explore what options might make sense for your situation. Let's talk about your equity and what it means for your future.
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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 Burrus team any time and we'll walk you through your options. |
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