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Mortgage Market Update
Patrick Culleton
Patrick Culleton
Tuesday, October 20, 2026
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Fixed rate or adjustable—which one is right? |
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There's more than one way to structure a mortgage, and the best choice depends on how long you plan to stay put.
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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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Loan Programs
Fixed vs. adjustable: which fits your timeline?
One question I hear often is whether to lock in a fixed rate or take on an adjustable one. The answer depends entirely on your plan. If you're staying in your home long-term, a fixed rate gives you peace of mind—your payment never changes, no matter what happens in the market. If you're thinking you might move or refinance in a few years, an adjustable rate might start lower, though it can go up after the initial period ends. There's no wrong choice, only the one that matches your life. I'd love to walk through what makes sense for your situation. Let's talk about which loan structure aligns with your goals.
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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 Patrick Culleton team any time and we'll walk you through your options. |
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