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Mortgage Market Update
Scott Smith
Scott Smith
Tuesday, October 20, 2026
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What type of loan is actually right for you? |
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Hi there. This week I want to talk about something that gets overlooked in the mortgage conversation—and it shouldn't.
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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 loan type matters more than you think
Most people focus on interest rates when they're shopping for a mortgage, but the type of loan you choose shapes your entire borrowing experience. Fixed-rate loans keep your payment stable for decades. Adjustable-rate options may start lower but can change over time. Government-backed programs like FHA or VA loans have different down payment and credit requirements than conventional mortgages. The right choice depends on your timeline, risk tolerance, and financial goals—not just the rate you see today. I'd be happy to walk through which loan type aligns with your situation and why it makes sense for you. Let's talk about which loan program fits your needs best.
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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 Scott Smith team any time and we'll walk you through your options. |
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