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Mortgage Market Update
My Mortgage Company
Gary Wright — Gary Wright
Tuesday, October 20, 2026
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Loan length: the choice you shouldn't overlook |
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One of the most important decisions you'll make in a mortgage happens early on—and a lot of people don't spend enough time thinking about it.
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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 Terms
Why your loan length matters more than you think
When you're shopping for a mortgage, it's easy to focus on the interest rate and monthly payment. But the length of your loan—whether it's 15 years, 20 years, 30 years, or something in between—shapes your entire financial picture. A shorter loan means you'll pay less interest over time and build equity faster, but a longer loan can mean more breathing room in your monthly budget. Neither choice is automatically right; it depends on what matters most to you right now. The best loan term is the one that balances your need for manageable payments with your long-term financial goals. If you're wondering which path makes sense for your situation, I'd love to walk through the trade-offs with you. Let's talk about which loan term could work best for your goals.
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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
Gary Wright — Gary Wright
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