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Mortgage Market Update
Mike Gurley
Mike Gurley
Wednesday, October 21, 2026
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Why higher rates aren't bringing prices down |
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This week we're looking at what's actually happening in the housing market as rates stay elevated and affordability stays tough. Here are four stories that matter to 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 & Access
What your home equity can do for you
If you've been paying your mortgage for a few years, you likely have equity built up—the difference between what your home is worth and what you owe. That equity isn't just a number on paper. It can be a financial tool when you need it. Whether you're thinking about renovating, consolidating debt, or handling an unexpected expense, a home equity loan or line of credit lets you tap into that value at rates that are often better than credit cards or personal loans. The right move depends on your situation and goals. I'd like to walk you through how this works and whether it makes sense for you.
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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
Click the link below to read the full article.
| Key takeaway: affordability is about the total monthly cost, not just the home price tag. |
Read full article →
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Mortgage News Daily
Home prices picked up a bit more momentum in July, with annual appreciation accelerating slightly. However, the gains look less impressive when you account for inflation, and they're definitely not happening everywhere—some regions are seeing real weakness.
| Key takeaway: don't assume your local market is moving the same way as national headlines suggest. |
Read full article →
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Mortgage News Daily
Pending home sales ticked slightly higher in August as the South and West gained while the Northeast and Midwest fell back. The uptick came despite mortgage rates staying elevated, suggesting some regions are holding steadier than others right now.
| Key takeaway: where you live matters more than ever when it comes to market momentum. |
Read full article →
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Mortgage News Daily
Builders are growing more cautious as rising construction costs, labor shortages, and higher mortgage rates squeeze their business. This slowdown in builder sentiment could mean fewer new homes coming to market, which may eventually tighten inventory and affect your options.
| Key takeaway: new home inventory could get tighter if builder caution continues. |
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 Mike Gurley team any time and we'll walk you through your options. |
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