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Mortgage Market Update
My Mortgage Company
JV Mortgage
Tuesday, October 20, 2026
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Your mortgage payment won't budge if rates change |
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Hi there. This week I want to clear up a common misconception about how mortgage rates and payments actually work.
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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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Smart Money
Why your mortgage payment stays the same when rates move
I hear this question often: "If rates drop, does my payment go down automatically?" The answer is no—and understanding why matters. Your payment is locked in when you close on your loan. If rates fall tomorrow, your payment doesn't change unless you refinance. That's actually good news if rates rise instead. But it also means staying aware of what's happening in the market. When rates move significantly, refinancing becomes worth a real conversation. There's no urgency, but there's also no reason to miss an opportunity if the numbers make sense for your situation. Let's talk about where you stand. Give me a call or send a message—I'd be happy to walk you 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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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
JV Mortgage
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