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Mortgage Market Update
My Mortgage Company
Zach Schaphorst
Tuesday, October 20, 2026
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Do you know how much equity you have? |
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Home equity is one of the most powerful financial tools homeowners have. Let's look at what it means for 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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Home Equity
You might have built more equity than you think
If you've owned your home for a few years or made extra payments, there's a good chance you have equity sitting there. That's the difference between what your home is worth and what you still owe on your mortgage. Some people forget about this asset until they need it. But knowing your equity position matters—it opens doors to options like refinancing into a better rate, accessing cash for home improvements or other goals, or simply understanding your real net worth. If you'd like to get a clear picture of where you stand, I'm happy to walk through it with you. No obligation, just clarity. Let's talk about your equity and what options might make 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 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
Zach Schaphorst
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