| |
 |
Tuesday, October 20, 2026 |
|
|
Mortgage Market Update
What really moves your monthly payment
Hi there. This week I want to cut through some of the noise around rates and talk about what actually shapes what you pay each month.
|
|
|
|
National Mortgage Rates · October 16, 2026
|
Conventional 30-Year
7.28%
|
|
| |
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
| |
|
Affordability & Payment
Why your rate matters less than you think
I talk to a lot of people who fixate on interest rates—and I get it. A rate move can feel huge. But here's what I've learned: your monthly payment depends on three things working together: the rate, the loan amount, and how long you're borrowing. A lower rate helps, sure. But so does a bigger down payment, a longer loan term, or even just waiting to buy a less expensive home. Before you chase a rate drop, it's worth stepping back and asking what actually moves the needle on affordability for your situation. That's where a real conversation helps. Let's talk through what matters most to you. Reach out if you'd like to explore what a realistic payment looks like for your goals.
|
|
Tip of the Week
Your loan officer can run a credit simulator to show exactly which actions will move your score the most.
|
|
Tips for Homeowners
Year-End Tax & Mortgage Planning
|
|
1.
|
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).
|
|
2.
|
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.
|
|
3.
|
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.
|
|
|
|
Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Jon Puente team any time and we'll walk you through your options.
|
|
5860 Baker Road, Minnetonka, MN, 55345
269-599-3395
Jon Puente · Unsubscribe
|
|
