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Mortgage Market Update
Tony Recupero
Tony Recupero
Tuesday, October 20, 2026
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The power of paying a little extra |
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Every mortgage payment is made up of two parts: interest and principal. Here's what happens when you control that balance.
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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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Paying Down Principal
Why your extra payment matters more than you think
When you make a payment above your minimum, most of that goes straight to principal—the actual amount you owe. Even a small extra payment each month compounds over time, shortening your loan and saving you money in interest. The earlier you do this, the bigger the impact. Some people add a little to every payment; others do it once or twice a year. Either way, it works. If you're curious about where your payments are going now or whether this strategy makes sense for your situation, I'm happy to walk through it with you. Let's talk about how much you could save by paying down principal faster.
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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 Tony Recupero team any time and we'll walk you through your options. |
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