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Mortgage Market Update
Denise Marquez
Denise Marquez
Wednesday, October 21, 2026
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Mortgage apps are down, but here's what it means for you |
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This week we're looking at what's happening with buyer demand, where property taxes stay low, and how construction is responding to rate changes. Let's break down what matters for your wallet.
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National Mortgage Rates · October 20, 2026
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Conventional 30-Year
7.33%
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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 & Borrowing
When home equity becomes your financial tool
As you pay down your mortgage and your home appreciates, you build equity—real wealth sitting in your walls. That equity can work for you in ways a lot of people don't realize. Whether you're facing an unexpected expense, planning a home improvement, or consolidating higher-interest debt, tapping into your home's equity through a loan or line of credit is often simpler and cheaper than other borrowing options. The catch is timing: understanding what you qualify for and how different loan products work makes all the difference. I've helped borrowers unlock their equity smartly—meaning they got what they needed without overextending themselves. If you're curious whether your home's equity could help you reach a goal right now, let's talk through your 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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Realtor.com
Even as interest rates ticked down slightly this week, fewer people are applying for mortgages to purchase homes. This drop in buyer activity is a sign of how rate levels and affordability are still weighing on homebuying decisions.
| Key takeaway: Lower rates help, but if monthly payments still feel out of reach, it may take more time or rate relief before buyer activity picks back up. |
Read full article →
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Realtor.com
Home construction is slowing down as builders grapple with higher mortgage rates affecting their costs and buyer demand. This tightening of new supply can eventually work in existing homeowners' favor by limiting inventory.
| Key takeaway: Fewer new homes being built means less competition for sellers and potentially steadier home values as supply shrinks. |
Read full article →
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Realtor.com
If you're thinking about relocating or just curious where your tax burden is lightest, five states have cracked the code on keeping effective property tax rates under half a percent. This can make a real difference in your total housing costs over time.
| Key takeaway: Property taxes vary wildly by location, so factor them into your total monthly housing cost—not just your mortgage payment. |
Read full article →
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Realtor.com
The number of homes under contract in September has fallen to record lows, reflecting the ongoing challenge buyers face with affordability and limited inventory. This metric is often a leading indicator of what the broader housing market will look like in the months ahead.
| Key takeaway: All-time lows in pending sales suggest the market will remain tight, so if you're planning to sell or buy, timing and preparation matter more than ever. |
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 Denise Marquez team any time and we'll walk you through your options. |
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808 RT 15 S, Lake Hopatcong, NJ 07849
201-456-7475 | https://www.dm-mtg.com/
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