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Mortgage Market Update
My Mortgage Company
Andrea WIlson — Andrea WIlson
Tuesday, October 20, 2026
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How much does a rate move actually cost? |
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Hi there. This week I want to tackle a question I hear all the time: what's the real impact of rates on a 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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Affordability Math
How rate changes actually hit your wallet
When rates move, your monthly payment moves with them—but not always in the way people expect. A lot of borrowers think a small rate shift means a small payment change, but the math compounds over time. That's why I always encourage people to run the numbers before deciding to wait, lock in, or refinance. The relationship between rates and affordability is real, and it's worth understanding on your own terms. If you're curious about what a rate change means for your specific situation—whether you're shopping for a mortgage, considering a refinance, or just trying to plan ahead—I'm here to walk through it with you. No pressure, just clarity. Let's talk about what rates mean for your budget.
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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
Andrea WIlson — Andrea WIlson
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