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Mortgage Market Update
sherry kerr
Sherry Kerr
Tuesday, October 20, 2026
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Why your rate matters more than you realize |
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Hi there. Rates have been moving around lately, and I've noticed a lot of borrowers are unclear about what that actually means for them.
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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 Basics
Why your interest rate matters more than you think
When you're shopping for a mortgage, the interest rate can feel like just one number among many. But it's actually the engine that drives your monthly payment, your total interest cost over time, and how much of each payment goes toward building equity in your home. Even small movements in rates shift what you can afford and how long you'll pay for your loan. Understanding this connection helps you make smarter decisions about when to lock in a rate, which loan program makes sense for your situation, and whether refinancing might work in your favor down the road. I'd love to walk you through how this works for your specific goals. Let's talk about what rate environment means for your next move.
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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 sherry kerr team any time and we'll walk you through your options. |
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