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Mortgage Market Update
My Mortgage Company
Jimmy Everetts
Tuesday, October 20, 2026
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Your mortgage payment and interest rates |
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Hi there. This week I want to clear up something that confuses a lot of homeowners: the relationship between rates and your monthly payment.
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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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Mortgage Basics
Why your payment stays the same (even when rates move)
One question I hear often: if rates go up or down, does my monthly payment change? The answer depends on what kind of loan you have. If you have a fixed-rate mortgage, your payment never changes—that's locked in for the life of the loan. If you have an adjustable-rate mortgage, your payment may adjust after an initial period. The rate environment affects new borrowers most directly, since they're shopping for loans right now. But existing homeowners should understand their own loan type so there are no surprises down the road. Knowing this gives you peace of mind and helps you plan your budget with confidence. If you'd like to review your loan details or talk through your options, I'm here to help.
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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
Jimmy Everetts
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