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Mortgage Market Update
Erez Shimoni
Erez Shimoni
Sunday, October 11, 2026
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U.S. Housing Costs Could Return to “Normal” Within 5 Years. He... |
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Welcome to your mortgage market update from Erez Shimoni for Sunday, October 11, 2026. This week we've rounded up the latest news from Redfin and HousingWire and Mortgage News Daily so you have everything you need in one place. Read on for the stories that matter most to homebuyers and homeowners right now.
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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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Smart Moves
Three Things to Check on Your Mortgage Statement Today
Your monthly mortgage statement holds more useful information than most people realize, and a two-minute review can save you money. First, check your escrow balance — if your property taxes or insurance changed, your payment may adjust, and surprises are easier to handle when you see them coming. Second, look at your principal balance and compare it to your home's current value; if you've crossed below 80% loan-to-value, you may be able to drop private mortgage insurance and lower your payment. Third, confirm your interest rate and loan type so you know whether a refinance could help. None of these take long, and each one is a chance to keep more money where it belongs. If anything looks off or you're not sure, send it my way and I'll walk you through it.
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Tip of the Week
Keep major renovations in line with your neighborhood. Over-improving for the area limits your return at resale.
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Tips for Homeowners
Self-Employed Mortgage Tips
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Self-employed borrowers typically qualify based on net income from their tax returns, not gross revenue. Two years of returns are standard, and lenders average the two years — a bad year hurts you.
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2.
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Write-offs reduce taxable income, which is great for taxes but bad for mortgage qualification. Consider whether maximizing deductions in the 1–2 years before applying is worth it.
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3.
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Bank statement loans are an alternative for self-employed borrowers. Instead of tax returns, lenders use 12–24 months of bank deposits to calculate income. Rates and requirements vary by lender.
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HousingWire
The month of October still has plenty of variables that can be a problem for rates
| Key takeaway: The month of October still has plenty of variables that can be a problem for rates |
Read full article →
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Mortgage News Daily
Home prices picked up a little more speed in July, as both FHFA and the S&P Cotality Case-Shiller Home Price Indices showed stronger annual appreciation than in their previous readings. The gains remain relatively modest by historical standards, and while nominal prices are still moving higher nationally, the picture looks considerably less impressive after accounting for inflation. The FHFA H
| Key takeaway: Home prices picked up a little more speed in July, as both FHFA and the S&P Cotality Case-Shiller Home Price Indices showed stronger annual appreciation than in their previous readings. |
Read full article →
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Redfin
Click the link below to read the full article.
| Key takeaway: Mortgage Rates Tick Up Even as the Odds of a Fed Rate Hike Decline |
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 Erez Shimoni team any time and we'll walk you through your options. |
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6 Wills Way, Piscataway, NJ 08854
908-705-5882 | www.applywitherez.com
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