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Mortgage Market Update
Brandon Palmer
Brandon Palmer
Tuesday, October 20, 2026
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What preapproval actually tells you |
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I help a lot of first-time buyers—and some seasoned homeowners—understand what preapproval really means and why it changes the game.
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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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Getting Preapproved
Why preapproval matters more than you think
A lot of people think preapproval is just paperwork—a checkbox on the way to house hunting. But it's actually one of the most useful tools you have. When you're preapproved, you know exactly what you can afford, sellers take your offer seriously, and you move faster than buyers who haven't done this work yet. It also gives you a chance to spot issues with your credit or finances *before* you find the perfect home, so you can address them calmly instead of under pressure. Whether you're shopping now or thinking about it down the road, getting preapproved tells you where you really stand. If you'd like to talk through what preapproval looks like for your situation, I'm here to walk you through it.
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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 Brandon Palmer team any time and we'll walk you through your options. |
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