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Mortgage Market Update
My Mortgage Company
Christopher Edwards
Tuesday, October 20, 2026
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Why your payment might shift later |
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There's a lot happening behind the scenes of every mortgage. This week, I want to shed light on one of the most common surprises borrowers face.
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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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Mortgage Basics
Why your monthly payment might change even if rates don't
Most people think their mortgage payment stays the same for the life of the loan—and for many, it does. But if you have an adjustable-rate mortgage, an escrow account that funds taxes and insurance, or you're carrying mortgage insurance, your payment can shift over time even when interest rates hold steady. Property taxes go up, insurance premiums increase, and some loans are designed to adjust after an initial period. Understanding what's baked into your payment—and what might move—helps you plan your budget and avoid surprises. If you're not sure what kind of mortgage you have or how it's structured, I'd be happy to walk through your loan details with you. Let me know if you'd like to review your mortgage structure and what to expect down the road.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Christopher Edwards
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