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Tuesday, October 20, 2026 |
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Mortgage Market Update
Local news roundup: what's happening in Sheridan
We spend a lot of time thinking about mortgages and home markets here at Altitude, but we know you care about your whole community too. Here are a few stories from this week that caught our attention and might interest you.
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National Mortgage Rates · October 16, 2026
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Conventional 30-Year
8.28%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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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Smart Borrowing
Why your loan term matters more than you think
When you're shopping for a mortgage, interest rate gets all the attention—but your loan term (15 years, 30 years, or something in between) shapes your entire financial picture. A longer term means lower monthly payments but more interest paid over the life of the loan. A shorter term builds equity faster and costs less overall, but your payment is higher each month. The right choice depends on your income stability, other financial goals, and how long you plan to stay in the home. There's no universal "best" answer, which is exactly why it's worth a conversation. I can walk you through what each option actually costs you and what makes sense for your 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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After a stretch of unusually warm temperatures, Sheridan County is expecting cooler weather and rain later this week, with mountain snow possible in higher elevations. It's a good reminder to stay on top of seasonal home maintenance—clearing gutters before heavy rain and checking your heating system before the cold sets in can save headaches down the road.
| Key takeaway: Fall weather changes are a good time to do a quick home maintenance check. |
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Northern Wyoming's Live by Living group connects cancer survivors and caregivers through outdoor recreation and a close-knit community. It's a meaningful example of how our local community supports people through difficult times.
| Key takeaway: Sheridan has strong community resources for people facing health challenges. |
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The Sheridan Chamber of Commerce is revealing the winning design for the 31st annual Christmas Stroll Button Design Contest on Tuesday at 4 p.m., with Mayor Rich Bridger presenting. It's a fun tradition that kicks off the holiday season in Sheridan.
| Key takeaway: The Christmas Stroll is coming—a great community event to mark on your calendar. |
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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 Altitude Home Mortgage team any time and we'll walk you through your options.
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954 N Main Street
302187739
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