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Mortgage Market Update
My Mortgage Company
Joseph O'Connell
Tuesday, October 20, 2026
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Your payment matters more than you think |
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I've learned that borrowers care less about rate benchmarks and more about whether they can comfortably afford their home. Let me explain why.
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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
When your payment matters more than the rate
Here's something I talk about with almost every borrower: the interest rate gets the headlines, but your actual monthly payment is what shows up in your bank account. Two loans with similar rates can feel completely different depending on the loan term, down payment, and structure. If you're shopping around or wondering whether now is the right time to buy or refinance, the real question isn't just "what's the rate?" It's "what does this cost me each month, and does that fit my budget?" That's where a conversation with me makes sense. I can show you how different loan options change your payment and help you find one that works for your life, not just the rate sheet. Let's talk through what your payment could look like.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Joseph O'Connell
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