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Mortgage Market Update
Christopher Austin
Christopher Robert Austin
Tuesday, October 20, 2026
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Building equity faster than you think |
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Your mortgage is more than a monthly payment—it's slowly building something real. Let's talk about what that looks like.
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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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Equity Building
What your mortgage balance really means
Every payment you make builds equity—that's the part of your home you actually own. The more equity you have, the more options open up: you might refinance on better terms, tap that equity for a major expense, or simply own your home outright faster. But equity isn't just about the money you've paid down. Home values matter too. If your home has appreciated, you may have more equity than your loan balance alone suggests. It's worth understanding where you stand, especially if life circumstances have changed or you're thinking about your next move. Knowing your equity position helps you make smarter decisions about your mortgage and your home. I'd be happy to walk through your equity situation and what it might mean for you.
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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 Christopher Austin team any time and we'll walk you through your options. |
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