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Mortgage Market Update
Mayra Stewart
Mayra Stewart
Tuesday, October 20, 2026
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Which mortgage type fits your plan |
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There's more than one way to finance a home, and not every option works for every borrower. This week, let's look at why the loan program you pick can be as important as the rate itself.
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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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Loan Programs
Not all mortgages work the same way
When you're shopping for a home or thinking about refinancing, the interest rate gets most of the attention—but the type of loan you choose matters just as much. A fixed-rate mortgage locks in your payment for the life of the loan. An adjustable-rate mortgage might start lower but can change over time. Some programs are built for first-time buyers; others let you put down less money or skip the traditional appraisal process. Each has real trade-offs worth understanding. The right choice depends on your timeline, how long you plan to stay in the home, and what kind of payment predictability matters to you. I'd be happy to walk through which programs might fit your situation. Let's talk about which loan type makes sense for where you're at.
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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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