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Mortgage Market Update
Deuane Woodard
Deuane Woodard
Tuesday, October 20, 2026
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How much equity are you building each month? |
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Hi there. Here's something worth checking in on: your mortgage is working to build your wealth, even if you don't see it happening week to week.
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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 your principal payments are doing for you
Every month, part of your mortgage payment goes toward principal—the amount you actually owe on your home. The rest covers interest and costs. Early on, that principal chunk feels small, but it's working quietly to build your equity. As time passes, more of each payment goes to principal instead of interest, which means you're building ownership faster than you might realize. If you've been in your home for a few years, you may have more equity available than you think. Understanding where that equity sits can open doors when you need them—whether that's a future refinance, a home improvement project, or just knowing your financial picture. I'd love to show you a breakdown of how your payments have been working for you. Let's take a look at your loan details and see what you've built so far.
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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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