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Mortgage Market Update
Mike Edwards
Mike Edwards
Tuesday, October 20, 2026
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When rates move, here's what changes |
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One of the questions I hear most often is how sensitive a mortgage payment really is to rate changes. Let me break it down in plain terms.
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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 & Payments
What happens to your payment when rates shift
If you've been watching rates move lately, you might wonder how that affects your mortgage payment—especially if you're thinking about buying or refinancing soon. The relationship is straightforward: when rates go up, your payment goes up; when rates go down, your payment can come down. But the size of that change depends on your loan amount, the type of loan you have, and how long you're borrowing. This matters because a small rate move can mean a real difference in what you pay each month. Understanding how rate changes translate to your actual payment is one of the clearest ways to make a confident decision about timing and your options. If you'd like to see how current rates would affect your specific payment, 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 Mike Edwards team any time and we'll walk you through your options. |
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