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Mortgage Market Update
My Mortgage Company
Rich Hanlin
Tuesday, October 20, 2026
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Your budget just changed (here's why) |
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When interest rates move, it ripples through your home-buying or refinancing plans in ways that might not be obvious at first glance. Here's what you should know.
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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 shifts
Interest rates and your home affordability are linked in a direct way. When rates move up, the monthly payment on the same home goes up too—which means the price you can afford to borrow tends to come down. The reverse is true when rates fall. This isn't about whether a home is "worth" its price; it's about what you can actually finance each month. If you've been looking at homes and felt priced out, or if you're thinking about whether now is the time to buy, understanding how your rate environment affects your real purchasing power is worth a conversation. I'm here to walk through what your actual options look like today. Let's talk about where you stand right now—I can help you see the full picture.
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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
Rich Hanlin
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