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Mortgage Market Update
Annette Judd
Annette Judd
Tuesday, October 20, 2026
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What actually goes into your monthly payment |
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I talk to a lot of homeowners who have questions about their mortgage, and one of the most common is: where exactly is my money going? Let me break it down.
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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 might change even if your rate doesn't
A lot of homeowners assume their monthly payment stays locked in for the life of their loan—and for most of you, it does. But there are a few reasons your payment could shift over time, even on a fixed-rate mortgage. Property taxes can increase. Homeowners insurance premiums go up. If you're in an escrow account, changes to those costs flow right into your payment. It's not a surprise you need to worry about, just something worth understanding. Knowing what moves your payment helps you budget smarter and spot potential savings down the road. If you'd like to walk through your statement and understand exactly what you're paying for, 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 Annette Judd team any time and we'll walk you through your options. |
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