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Mortgage Market Update
Emin Hakobian
Phast Funding
Tuesday, October 20, 2026
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When equity becomes a tool |
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I've had several conversations lately with homeowners wondering what to do with the equity they've built. Here's a straightforward look at your main 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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Home Equity
Tapping your equity without starting over
If you've been in your home for a few years, you likely have built equity—and that's real money you can access. A cash-out refinance or home equity line of credit lets you borrow against what you own without selling. Some people use it for major repairs, debt consolidation, or investments in the home itself. The key difference: which option fits your goals and timeline. A refinance replaces your entire loan, which means new terms and a reset clock. A HELOC works more like a credit card tied to your home's value. Both have trade-offs worth understanding before you move forward. Let's talk through which approach makes sense for what you're trying to do.
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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 Emin Hakobian team any time and we'll walk you through your options. |
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