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Mortgage Market Update
My Mortgage Company
StorBelow
Tuesday, October 20, 2026
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How rate moves change what you can afford |
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Mortgage rates are always moving, and it's natural to wonder what that means for you. Here's the clarity you need.
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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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Payment Reality
What happens to your payment when rates change
When mortgage rates move, it affects two different things depending on your situation. If you're shopping for a home, a rate change shifts what you can afford to borrow at the same monthly payment—or changes your payment on the same loan amount. If you already have a mortgage, rate changes don't affect your current payment at all (that's locked in). But they do matter if you're thinking about refinancing, because a new loan at a different rate means a different payment going forward. Understanding this difference helps you make smarter decisions about timing and which loan program makes sense for your goals. Let's talk through how current rates might affect your specific situation.
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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
StorBelow
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