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Mortgage Market Update
My Mortgage Company
Joanne Hudson - Blank Account
Tuesday, October 20, 2026
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Your payment vs. the rate—what's the real difference? |
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Hi there. This week I want to talk about something that comes up in almost every conversation I have.
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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
I talk to borrowers every week who are focused solely on interest rates—and that makes sense. But here's what I've learned: the rate is just one piece of the affordability puzzle. Your actual monthly payment depends on the rate, yes, but also on your loan amount, how long you're borrowing for, taxes, insurance, and what you put down. Sometimes a slightly different loan structure or timeline shifts what you can actually afford without changing the rate itself. The goal isn't the lowest rate; it's a payment and terms that work for your life. If you're shopping or thinking about your current mortgage, let's look at the whole picture together. Reach out anytime—I'm happy to walk through what true affordability looks like for you.
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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
Joanne Hudson - Blank Account
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