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Mortgage Market Update
Terri Churchman
Terri Churchman
Tuesday, October 20, 2026
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Your rate affects more than your payment |
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Hi there. I wanted to share something important about how mortgage rates work and why they matter to your long-term financial picture.
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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 rate matters more than you think
When rates move, it changes more than just your monthly payment. A higher rate means you're paying more interest over the life of your loan, which delays how quickly you build equity in your home. A lower rate does the opposite — it puts more of your payment toward principal from day one. This is why timing matters, and why it's worth understanding where rates stand relative to your current situation. Whether you're thinking about buying, refinancing, or just curious about your options, the rate environment affects your real wealth-building timeline in ways that aren't always obvious at first glance. Let's talk about what the current rate picture means for your specific 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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