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Mortgage Market Update
My Mortgage Company
Simone Phillip
Tuesday, October 20, 2026
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Picking the right loan type matters |
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Hi there. This week I want to talk about something that doesn't always get enough attention when you're shopping for a mortgage.
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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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Loan Programs
Not all mortgages are built the same
When you're ready to buy or refinance, the loan program you choose shapes your entire experience—and your wallet. Fixed-rate mortgages offer predictability. Adjustable-rate loans can start lower but change over time. Government-backed programs like FHA or VA have their own rules and benefits. Conventional loans work differently than portfolio options. The right choice depends on your timeline, risk tolerance, and how long you plan to stay in the home. I've seen borrowers save thousands by matching the right program to their actual situation, and I've seen others pick the wrong one and regret it. If you're not sure which program makes sense for you, let's talk it through. Reach out and we can walk through which loan program fits your goals.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Simone Phillip
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