Mortgage Market Update

My Mortgage Company

Sean G Lusk — Sean G Lusk

Tuesday, October 20, 2026

What kind of mortgage should you actually get?

There's a lot to know about mortgages, and some of it matters more than you might think. This week, let's break down loan types—what they are and why picking the right one matters.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%

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.

Loan Programs

What your loan type actually means for you

When you're shopping for a mortgage, you'll hear terms like fixed-rate, adjustable-rate, FHA, conventional, and VA thrown around. It's easy to tune out—but your loan type shapes your entire borrowing experience. A fixed rate locks in predictability; an adjustable rate starts lower but can change. Government-backed loans (FHA, VA, USDA) often require less down and have different rules than conventional mortgages. None of these is automatically "best"—the right choice depends on your timeline, risk comfort, down payment, and how long you plan to stay in the home. Understanding what each one does helps you make a choice you'll feel good about, not just the one that sounds cheapest today.

Let's talk through which loan type fits your situation.

Tip of the Week

Your loan officer can run a credit simulator to show exactly which actions will move your score the most.

Tips for Homeowners

Year-End Tax & Mortgage Planning

1.	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).

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Sean G Lusk — Sean G Lusk

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