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Mortgage Market Update
Shannon Palmer
Shannon Palmer
Tuesday, October 20, 2026
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You might qualify for more than you realize |
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Not every borrower fits the same mold, and mortgage programs know it. Here's what you should know about your actual options.
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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 Programs
Why your mortgage options might be wider than you think
Most borrowers assume they know what kind of loan they qualify for—and a lot of them underestimate themselves. Maybe you think you need a jumbo loan, or you're worried your credit score locks you into one program. The truth is, loan options have evolved, and there are more paths to homeownership (or a better mortgage) than there used to be. Different programs serve different situations: some favor first-time buyers, some work better for self-employed borrowers, some reward stable employment history. The program that makes sense depends on your whole picture, not just one number. That's why it's worth having a real conversation about what's actually available to you—you might surprise yourself. Let's talk about which programs could work 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 Shannon Palmer team any time and we'll walk you through your options. |
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