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Mortgage Market Update
My Mortgage Company
Len Padilla
Tuesday, October 20, 2026
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Mortgage type matters more than you think |
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Hi there. This week I want to touch on something that doesn't always get the attention it deserves: the shape and structure of your loan 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
One of the biggest surprises I see is borrowers who don't realize how many different loan structures exist. A 15-year mortgage feels completely different from a 30-year one. An adjustable-rate loan behaves differently from a fixed-rate loan. Some programs let you build equity faster; others prioritize keeping your monthly payment lower. There's no single "right" answer—it depends on your timeline, how long you plan to stay in your home, and what fits your budget today. The loan you took five years ago might not be the loan you'd choose now. If you've never really explored your options, or if something in your situation has changed, it's worth a conversation. I'm here to walk through what's available and what might actually make sense for you. Let's talk about whether your current loan structure still serves you well.
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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
Len Padilla
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