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Mortgage Market Update
My Mortgage Company
Ken Grossnickle
Tuesday, October 20, 2026
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How much of your home do you actually own? |
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I work with homeowners at all stages of their mortgage journey. This week, I want to remind you about something powerful you might not think about often.
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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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Equity Building
Your home is working for you—here's how
Every mortgage payment you make builds equity in your home. It's one of the best parts of homeownership: you're paying yourself instead of a landlord. The longer you own, the more equity you accumulate—and that opens doors. You can refinance into better terms, tap into that equity for major expenses, or simply own more of your home outright. If you've been in your home for a few years, you might be surprised at how much equity you've built. Understanding what you have matters because it shapes your options down the road, whether that's refinancing, a home improvement project, or planning your next move. Let's talk about what your equity might mean 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
Ken Grossnickle
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