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Mortgage Market Update
Brian Thompson
Brian Thompson
Tuesday, October 20, 2026
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When rates move, what happens to your payment? |
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Rates are always moving, and so are your options. Here's what you need to know about how that affects you.
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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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Affordability & Payments
When rates drop, here's what actually changes
A lot of borrowers ask me: if rates go down, does my payment automatically get better? The short answer is no—not unless you take action. Your existing loan stays exactly as it is. But rate movement does open doors. Lower rates can make refinancing worth a look, or they might make a new purchase more affordable than it was last month. The key is understanding that rate changes create opportunities, not automatic wins. That's why it pays to check in with me when the market shifts. I can run the real numbers for your situation and show you whether a move makes sense. Let's talk about what recent rate movement means 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 Brian Thompson team any time and we'll walk you through your options. |
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