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Mortgage Market Update
Denise Marquez
Denise Marquez
Tuesday, October 20, 2026
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Higher rates are shifting power back to buyers |
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This week we're looking at what rising mortgage rates mean for your buying power, why builder confidence is sliding, and a real risk that HOA owners should know about. Here's what matters for your wallet.
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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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Equity & Borrowing
When home equity becomes your financial tool
As you pay down your mortgage and your home appreciates, you build equity—real wealth sitting in your walls. That equity can work for you in ways a lot of people don't realize. Whether you're facing an unexpected expense, planning a home improvement, or consolidating higher-interest debt, tapping into your home's equity through a loan or line of credit is often simpler and cheaper than other borrowing options. The catch is timing: understanding what you qualify for and how different loan products work makes all the difference. I've helped borrowers unlock their equity smartly—meaning they got what they needed without overextending themselves. If you're curious whether your home's equity could help you reach a goal right now, let's talk through your options.
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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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Realtor.com
Homebuilder confidence dropped sharply in October as mortgage rates climbed, reaching the lowest level since 2009. When builders lose confidence, new construction slows down, which can mean fewer homes on the market and potentially less competitive pressure on pricing.
| Key takeaway: A slowdown in new construction could reduce your negotiating power as a buyer, so if you're considering making a move, timing matters. |
Read full article →
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Realtor.com
Click the link below to read the full article.
| Key takeaway: You have more negotiating room right now, but make sure the payment still works for your budget before you get excited about a lower sale price. |
Read full article →
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Realtor.com
Homeowners living in HOA communities can face unexpected assessments after major storms or hurricanes, even if they've been paying regular dues without complaint. These special assessments can drain your savings quickly and catch you off guard if you're not prepared.
| Key takeaway: Before buying in an HOA community, ask whether they have a reserve fund and what's happened with special assessments after past natural disasters. |
Read full article →
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Realtor.com
Residents of a California mobile home park are facing a second rent increase under new ownership, doubling their costs. This highlights a broader concern for renters in mobile home communities, where sudden ownership changes can lead to sharp cost spikes that force families out of their homes.
| Key takeaway: If you're considering a mobile home, understand the lease terms and research the community's ownership history and rent change practices. |
Read full article →
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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 Denise Marquez team any time and we'll walk you through your options. |
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808 RT 15 S, Lake Hopatcong, NJ 07849
201-456-7475 | https://www.dm-mtg.com/
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