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Mortgage Market Update
Anthony Patton
Anthony Patton
Tuesday, October 20, 2026
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Your credit cards are affecting your mortgage |
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Not all money matters are separate. When it comes to borrowing, everything is connected.
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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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Debt & Borrowing
Why your other debts matter when you buy or refinance
When you apply for a mortgage, lenders look at more than just your income. They examine your entire debt picture—credit cards, car loans, student loans, personal lines of credit. Why? Because every monthly payment you make reduces the amount a lender feels comfortable lending you. It's called your debt-to-income ratio, and it's one of the biggest factors in whether you qualify and what rate you're offered. The good news: if you've paid down other debts since your last application, you may have more borrowing power than you think. Sometimes a strategic payoff before refinancing or buying makes all the difference. I'd love to run the numbers with you and see what's possible. Let's talk about your full financial picture—I can show you how your debts affect your mortgage options.
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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 Anthony Patton team any time and we'll walk you through your options. |
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