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Mortgage Market Update
Paige Lott
Paige Lott
Tuesday, October 20, 2026
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Why your neighbor's mortgage might not be yours |
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Not all mortgages are created equal—even when they look similar on paper. Let me explain what I mean.
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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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Loan Programs
Why your neighbor's mortgage deal might not work for you
I hear it all the time: "My coworker just locked in an amazing rate" or "My brother-in-law got into a house with barely any down payment." Here's what matters: what works perfectly for someone else might not be the right fit for your situation. Loan programs aren't one-size-fits-all. Your credit profile, income, down payment amount, property type, and long-term plans all shape which programs make sense—and what your real costs will be over time. Two borrowers with similar credit scores might qualify for completely different options based on their circumstances. That's why I always recommend a conversation before you assume anything. I can walk you through which programs actually apply to you and why. Let's talk about what's available in your specific situation.
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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 Paige Lott team any time and we'll walk you through your options. |
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