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Mortgage Market Update
My Mortgage Company
Donnie Schneider
Tuesday, October 20, 2026
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What type of mortgage do you actually have? |
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There's more to picking a mortgage than finding a good rate. The type of loan you choose shapes how your payment works and what happens over time.
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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 decisions you make isn't about the rate—it's about the loan itself. A fixed-rate mortgage works one way, an adjustable rate another, and newer options like rate-and-term programs work differently still. Each has trade-offs that matter over time. Some borrowers need stability and predictability; others benefit from starting lower and adjusting later. The right choice depends on how long you plan to stay, what your finances look like now and down the road, and how much payment uncertainty you can handle. I see people pick a loan type based on hearsay instead of their actual situation, which usually costs them. If you're not sure which program fits your needs, that's worth a real conversation. I'm here to walk through your options and explain what each one actually means for your money. Let's talk about which loan program makes sense for where you are right now.
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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
Donnie Schneider
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