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Mortgage Market Update
Christopher Austin
Christopher Robert Austin
Tuesday, October 20, 2026
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Your mortgage is building equity every month |
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A lot of people think of their mortgage payment as money gone. In reality, you're building real wealth with every single payment you make.
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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
Your home is working for you between payments
Most homeowners don't realize how much equity they're building just by paying their mortgage on time. Every payment chips away at what you owe and builds ownership in your home. On top of that, if your home has appreciated since you bought it, you're gaining equity there too. That equity is real money—and it can be useful down the road for everything from home improvements to covering unexpected costs. The longer you stay in your home and keep making payments, the stronger your financial position becomes. If you'd like to know roughly how much equity you've built so far, I'm happy to pull that information for you. Let me know if you'd like to explore what your home equity could do 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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