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Mortgage Market Update
Angela Comstock
Angela Comstock
Tuesday, October 20, 2026
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How rates actually change your payment |
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Understanding how mortgage rates work can feel confusing, but the connection between rates and what you pay each month is straightforward once you know where to look.
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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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Affordability & Payments
What happens to your payment when rates move
I get asked this a lot: if rates go up or down, does my payment change? The short answer depends on what kind of loan you have. If you're locked into a fixed-rate mortgage, your payment stays the same—that's the whole point of "fixed." But if you're shopping for a new loan or thinking about refinancing, rate changes directly affect what you'd owe each month. Even small moves in rates can shift your monthly payment enough to change what home price makes sense for your budget. It's one reason checking rates regularly matters: you get a real picture of affordability before you commit. If you'd like to see how today's rates would affect your situation, I'm here to walk through it.
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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 Angela Comstock team any time and we'll walk you through your options. |
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