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Mortgage Market Update
My Mortgage Company
Johnny McCollum
Tuesday, October 20, 2026
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Why your loan type matters more than you think |
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Hi there—this week I want to talk about something that doesn't always get the spotlight, but absolutely should. Your loan program is just as important as your rate.
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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 loan, the interest rate gets most of the attention—but the program itself matters just as much. Some loans let you pay interest only at first. Others lock in your rate for the full term, while some adjust over time. Some require a larger down payment; others don't. The right choice depends on your timeline, how long you plan to stay in your home, and what fits your budget today and down the road. I've seen borrowers save real money—and stress—by picking a program that actually matches their situation instead of just chasing the lowest rate. If you're curious whether your current loan is still the best fit, or you're exploring options before you buy, let's talk through what makes sense for you. Reach out anytime if you'd like to walk through which loan program could work best for your goals.
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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
Johnny McCollum
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