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Mortgage Market Update
Russell Wakefield
Russell Wakefield
Tuesday, October 20, 2026
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What you should know about home equity |
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Hi there—I've been thinking about borrowers who've built real value in their homes but aren't sure what to do with it. Here's what matters.
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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 & Access
Your home equity could be working harder
If you've owned your home for a while, you likely have built equity—that's the difference between what your home is worth and what you still owe on your mortgage. A lot of homeowners don't realize they can tap into that equity when they need it, whether for home repairs, education, or other goals. There are a few ways to access it depending on your situation and what makes sense for your finances. The key is understanding your options so you can make a choice that fits your life, not just your lender's preference. Let's talk about whether tapping into your equity makes sense for you right now.
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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 Russell Wakefield team any time and we'll walk you through your options. |
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