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Mortgage Market Update
Petra Cephas
Bishoi Nageh
Tuesday, October 20, 2026
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What type of loan do you actually have? |
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Hi there. This week I want to tackle something simple but surprisingly overlooked: knowing your own loan inside and out.
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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
What loan type are you actually using?
A lot of people know they have a mortgage, but not everyone knows whether it's conventional, FHA, VA, or USDA—or what that difference means for them going forward. Your loan type affects everything from how you build equity to whether you can refinance down the road, and it shapes what options open up if your situation changes. Understanding your loan isn't just paperwork trivia; it's the foundation of smart money decisions about your home. I'd love to walk you through what you have and what it means for your financial picture. Reach out and let's talk about your loan—I can explain what you're carrying and why it matters.
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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 Petra Cephas team any time and we'll walk you through your options. |
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