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Mortgage Market Update
My Mortgage Company
Colton Chase
Tuesday, October 20, 2026
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What happens to your payment when rates move |
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Rates fluctuate constantly, and I hear the same questions every week. Let me clear up what actually changes—and what doesn't.
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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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Rate Movement
When rates drop, here's what actually changes
A lot of homeowners ask me what happens to their mortgage when rates move. The truth is simple: if you already have a loan locked in, your payment stays the same. Rate changes affect new borrowers and people refinancing. But here's why you should still pay attention. If rates fall meaningfully, refinancing might make sense for your situation. If rates rise, it reinforces why locking in early matters for anyone considering a home purchase. Understanding this helps you make smarter decisions about timing—whether that's buying now, waiting, or exploring a refi. I'm happy to walk through how rate movement might apply to your specific goals. Reach out if you'd like to talk through how rates affect your options.
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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
Colton Chase
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