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Mortgage Market Update
My Mortgage Company
Matthew Rizzolo
Tuesday, October 20, 2026
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Rates moved—does your payment change? |
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Rates don't stand still, and neither do the numbers that matter to your wallet. Here's what you need to know this week.
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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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Payment Planning
What happens to your payment when rates move
A lot of people assume that if rates drop, their payment drops automatically. That's true if you refinance, but if you're staying put in your current loan, your payment stays the same. On the flip side, if you're shopping for a home and rates have moved since you last looked, your payment on the same house will be different now. Understanding how rate changes affect what you can afford—and what you'll actually pay each month—is one of the smartest things you can do before you make a move. Whether you're thinking about refinancing, buying, or just curious where you stand, it's worth having that conversation. Let me run some numbers for your 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 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
Matthew Rizzolo
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