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Mortgage Market Update
Terri Churchman
Terri Churchman
Tuesday, October 20, 2026
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Your rate is doing more work than you realize |
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Every homeowner should understand the connection between rates and their wallet.
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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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Mortgage Basics
Why your interest rate matters more than you think
Your interest rate isn't just a number on your loan document — it shapes your entire monthly payment, how much interest you'll pay over the life of your loan, and what you can actually afford to borrow. Even small rate changes shift the math significantly. Understanding this helps you make smarter decisions about when to lock in a rate, whether refinancing makes sense, or how to evaluate a new loan offer. If you're shopping for a mortgage or thinking about your current one, knowing how rates work removes a lot of the mystery and puts you back in control. Let's talk through your rate and what it means 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 Terri Churchman team any time and we'll walk you through your options. |
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