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Mortgage Market Update
Matthew Scalese
Matthew Scalese
Tuesday, October 20, 2026
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Why your payment changed (it might not be what you think) |
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Hi there—I'm sharing something that comes up a lot in conversations with borrowers. It's about one of the easiest parts of homeownership to misunderstand.
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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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Mortgage Basics
Why your payment might change even if rates don't
Most people assume their mortgage payment stays the same for 30 years—and for a fixed-rate loan, the principal and interest do. But there's more to your monthly bill than that. Property taxes, homeowners insurance, and mortgage insurance (if you put down less than 20%) can all shift over time. When any of these go up, your total payment goes up with it, even if rates stay flat. Understanding what's actually in that payment each month helps you budget smarter and spot changes early. If you've noticed your payment creeping up, or you're curious what's really baked into yours, I'd love to walk through it with you. Reach out anytime—I'm happy to break down where your payment actually goes.
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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 Matthew Scalese team any time and we'll walk you through your options. |
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