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Mortgage Market Update
My Mortgage Company
Clover Dowdy
Tuesday, October 20, 2026
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When rates shift, your payment does too |
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There's a lot of talk about rates moving up or down, but what does that actually mean for you as a homeowner or buyer? Here's the practical side.
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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 Planning
What changes when rates move
Interest rates are always in motion, and even small shifts can affect what you're able to afford. When rates go up, your monthly payment on the same loan amount increases. When rates go down, that payment shrinks—which can open the door to borrowing more or keeping your payment steady while paying the loan off faster. The same logic applies whether you're buying for the first time or refinancing an existing mortgage. Understanding this relationship helps you make smarter decisions about timing and which loan program makes the most sense for your situation. I'm happy to walk you through how rate changes affect your specific numbers. Let's talk about what rate movement means 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
Clover Dowdy
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