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Mortgage Market Update
Erik Olson
Erik Olson
Tuesday, October 20, 2026
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The one number that matters most |
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Hi there. This week I want to talk about something that doesn't make the headlines but absolutely should matter to you.
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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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Affordability
Why your budget matters more than the rate
I talk to borrowers all the time who focus on getting the lowest possible rate—and that's smart. But here's what matters even more: making sure your monthly payment actually fits your life. A lower rate helps, but what really protects you is a loan amount and term you can comfortably afford, month after month, for years to come. When rates move, your payment moves with it. When your income or expenses change, your budget has to flex. The best loan is the one you can keep paying without stress, even when life gets complicated. That's why I always start by understanding what you can afford, not just what you can qualify for. Let's talk about what a realistic payment looks like for your situation.
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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 Erik Olson team any time and we'll walk you through your options. |
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