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Mortgage Market Update
Fawn Crosby
Fawn Crosby
Tuesday, October 20, 2026
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How rates affect what you can afford |
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Rates move, and when they do, your options shift too. Here's what that really means for 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 Check
What changes when rates move
When mortgage rates shift—even by a fraction—your monthly payment moves with them. A rate change affects not just what you owe each month, but also how much home you can afford to buy, or whether refinancing into a lower rate makes financial sense. If you're shopping for a home, this matters immediately. If you own and have been curious about your options, understanding this relationship helps you make a move when the timing is right for your situation. The good news: small changes in rates can open up new possibilities, and sometimes they close doors that were open before—knowing which applies to you is the whole point of checking in. I'm here to walk through what's realistic for you right now. Let's talk about what your situation looks like this week.
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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 Fawn Crosby team any time and we'll walk you through your options. |
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