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Mortgage Market Update
Jake McDonald
Jake McDonald
Tuesday, October 20, 2026
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Fixed or adjustable—which works for you? |
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One of the most important decisions you'll make when getting a mortgage is the type of rate you lock in. Here's what you need to know to make the right call.
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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
Fixed vs. adjustable: which loan fits your plan?
When you're shopping for a mortgage, one of the biggest choices is whether to lock in a fixed rate for the life of the loan or start with an adjustable rate. A fixed-rate mortgage keeps your payment stable no matter what happens to the market—predictable, straightforward, and it's what most borrowers choose. An adjustable-rate mortgage typically starts lower but can change after an initial period, which means your payment could go up or down later. The right choice depends on how long you plan to stay in the home and your comfort level with payment uncertainty. If you're building a life here and want to know exactly what you'll owe each month, fixed is usually the answer. If you're planning to move or refinance within a few years, adjustable might be worth exploring. Either way, I can walk you through the tradeoffs so you pick what actually works for your situation. Let's talk through which structure makes the most sense for you.
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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 Jake McDonald team any time and we'll walk you through your options. |
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