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Mortgage Market Update
Deuane Woodard
Deuane Woodard
Tuesday, October 20, 2026
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How your monthly payment builds wealth |
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Your mortgage is more than a monthly bill. Each payment is quietly working 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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Equity Building
What you're actually building with each payment
Most people think of their mortgage payment as just an expense—money gone. But here's what's really happening: with every payment you make, you're building equity in your home. Early on, most of that payment covers interest, which is why equity grows slowly at first. But as time goes on, more of each payment goes toward principal, and your ownership stake in the home grows faster. Understanding this matters because that equity can become useful down the road—whether you want to tap it for a major expense, refinance into better terms, or simply know you're building real wealth. I'd be happy to walk you through how your specific loan builds equity over time. Let me show you a breakdown of your equity growth and what it means for your financial picture.
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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 Deuane Woodard team any time and we'll walk you through your options. |
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