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Mortgage Market Update
Amy Velsh
Amy Velsh
Tuesday, October 20, 2026
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Fixed rate or adjustable rate—what's the difference? |
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One of the most important decisions you'll make as a borrower isn't about how much to borrow—it's what kind of loan to choose. Let me break down the two main paths.
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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 Program Basics
Fixed vs. adjustable: which loan fits your plan?
When you're shopping for a mortgage or thinking about refinancing, one of the biggest choices is whether to lock in a fixed rate for the life of the loan or start with a lower adjustable rate that can change over time. Fixed-rate loans give you payment stability and peace of mind—you know exactly what you're paying every month for 15, 20, or 30 years. Adjustable-rate loans often start lower, which can mean smaller initial payments, but they come with the reality that your rate and payment will adjust later. The right choice depends on your timeline, how long you plan to stay in your home, and your comfort level with uncertainty. I'd love to walk you through how each option might work for your specific situation. Let's talk about which loan structure makes the most sense 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 Amy Velsh team any time and we'll walk you through your options. |
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