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Mortgage Market Update
Chris George
Chris George
Wednesday, October 21, 2026
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Why buyer demand is slowing—and what it means |
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We're seeing some important shifts in the market this week that affect your timing and strategy. Here's what homebuyers need to know right now.
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National Mortgage Rates · October 20, 2026
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Conventional 30-Year
6.83%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing sounds simple—swap your old loan for a new one at a better rate. But the real question is whether the savings actually pencil out for your situation. A lower rate is great, but you'll pay closing costs to refinance, and if you plan to move or pay off the house soon, those costs might not be worth it. The break-even point depends on your timeline, your current rate, and what rates are doing now. Some people benefit immediately; others need a few years to recoup the cost. That's why it's worth looking at the actual numbers before you decide. Let me help you figure out whether refinancing makes sense for where you are right now.
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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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HousingWire
Even though mortgage rates declined, the number of people applying for home loans dropped significantly, with purchases down 7% week over week and 18% below last year. This tells us that falling rates alone aren't enough to push hesitant buyers off the fence—something else is holding them back, likely affordability or inventory concerns.
| Key takeaway: a rate drop doesn't automatically mean more homes will sell or that you'll suddenly see prices drop; buyer appetite matters just as much as borrowing costs. |
Read full article →
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HousingWire
Large institutional investors who've dominated home-buying in recent years are retreating, creating openings for smaller investors—especially in the Midwest and Sun Belt. This shift could mean more competition in certain markets and regions, so understanding local trends matters more than ever.
| Key takeaway: if you're buying in a hot Sun Belt market, you may still face investor competition, but it's changing in character and could open different opportunities. |
Read full article →
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HousingWire
With 36 states holding governor elections this year, housing affordability and supply have become major campaign issues. Expect ballot measures and policy changes around zoning reform, rental regulations, and tax incentives that could reshape the housing market in 2027.
| Key takeaway: pay attention to local and state races in your area—the winners' housing policies could directly affect home prices, rents, and what's available to buy in your region. |
Read full article →
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HousingWire
A Kentucky broker raised concerns about suspicious offer terms—specifically unusually low deposits paired with delayed funding—that could signal money-laundering schemes. While rare, these schemes can affect legitimate deals if they're caught up in regulatory action.
| Key takeaway: if a deal feels off—especially unusual deposit or timing terms—talk to your agent and lender; legitimate transactions have straightforward, standard structures. |
Read full article →
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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 Chris George team any time and we'll walk you through your options. |
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2701 E Insight Way, Suite 150, Chandler, AZ, 85286
615-422-4705 | https://www.cgmtgteam.com
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