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Mortgage Market Update
Mayra Stewart
Mayra Stewart
Tuesday, October 20, 2026
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When rates move, your buying power does too |
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Rates don't stay still, and neither do the choices available to you. Here's what you need to know about how changes affect what you can afford.
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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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Affordability Check
When rates rise, your buying power changes
I talk to people all the time who locked in a rate a year or two ago and forget what the lending landscape looks like now. If rates have moved since you last checked, it directly affects how much house you can afford on the same monthly budget. The good news: understanding this shift helps you make smarter decisions, whether you're thinking about buying, selling, or staying put. Some borrowers find they have more flexibility than they think; others discover it's the right moment to act before things shift further. Either way, knowing where you stand is half the battle. I'm happy to walk through what's changed for your situation and what it means for your options. Let's talk through what your budget looks like in today's market.
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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 Mayra Stewart team any time and we'll walk you through your options. |
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