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Mortgage Market Update
My Mortgage Company
Gary Wright — Gary Wright
Tuesday, October 20, 2026
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What your loan length really costs you |
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One of the most underrated decisions in a mortgage is how long you take to pay it back. Let me explain why it matters so much.
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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, 30 years, or something in between—shapes your entire financial picture. A shorter term means you'll build equity faster and pay less interest overall, but a longer term keeps your monthly payment lower and gives you more breathing room in your budget. The right choice depends on your income, goals, and what feels sustainable for your life right now. There's no universal "best" answer, which is why it's worth talking through your options. I'd love to walk you through how different loan terms would actually work for your situation. Let's find the loan term that fits your goals—reach out anytime.
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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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