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Mortgage Market Update
Travis Buis
Travis Buis
Tuesday, October 20, 2026
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Why your payment went up this month |
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I talk to borrowers every week who are surprised by changes to their monthly mortgage cost. Let me explain what's usually happening.
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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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Affordability Math
When your payment changes without refinancing
Most people think their mortgage payment stays the same for the life of the loan—and for fixed-rate mortgages, it does. But property taxes, homeowners insurance, and HOA fees don't. They creep up over time, which means your total monthly housing cost can grow even if your rate never changes. I've seen borrowers surprised by a $100+ jump in their escrow payment after a tax reassessment. If you've owned your home for a few years, it's worth reviewing your loan statement to understand what's actually in that payment. Knowing this difference helps you budget accurately and spot opportunities to refinance if rates move favorably. If you'd like to walk through what's in your current payment, I'm happy to help.
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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 Travis Buis team any time and we'll walk you through your options. |
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