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Mortgage Market Update
My Mortgage Company
Reanna Walls
Tuesday, October 20, 2026
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Your mortgage payment might shift soon |
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Most homeowners know their monthly payment, but not everyone knows what can change it. Here's what to watch for.
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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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Smart Money Habits
Why your mortgage payment might go up (and what to do about it)
If you have an adjustable-rate mortgage or a loan with an escrow account, there's something important to know: your monthly payment can change even when you're doing everything right. Adjustable rates reset on a schedule, and escrow accounts adjust when taxes or insurance go up in your area. Neither of these changes means you've made a mistake—they're just part of how certain mortgages work. The key is staying ready. Review your loan documents now so you understand what can change and when. If a payment increase would stretch your budget, we can talk about your options—sometimes a refinance into a fixed-rate loan makes sense, or sometimes it's just good to plan ahead. Either way, knowledge beats surprises. Let's review your loan and make sure you're not caught off-guard.
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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
Reanna Walls
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