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Mortgage Market Update
Robert Hendley
Robert Hendley
Tuesday, October 20, 2026
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The one choice that shapes your whole mortgage |
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One of the most important decisions you'll make on a mortgage isn't about rates — it's about time. Here's what you need to know.
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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 loan term matters more than you think
When you're shopping for a mortgage, the interest rate gets most of the attention. But the length of your loan — whether it's 15 years, 30 years, or something in between — shapes your entire financial picture. A shorter term means higher monthly payments but less interest paid over time. A longer term spreads those payments out, giving you breathing room in your budget. There's no universally "right" choice; it depends on your income, goals, and comfort level. The good news is you don't have to figure this out alone. I can walk you through how different loan terms would actually affect your monthly costs and lifetime interest, so you can make a decision that fits your real life. Let's talk about which loan term makes sense for your 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 Robert Hendley team any time and we'll walk you through your options. |
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