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Mortgage Market Update
My Mortgage Company
Marcus Szczerbacki
Tuesday, October 20, 2026
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One way to shorten your mortgage faster |
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Hi there. This week I want to share something that comes up a lot in conversations with homeowners who are thinking ahead.
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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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Paying Down Principal
What happens when you pay extra toward your mortgage
One of the best-kept secrets about mortgages is how much control you actually have over your timeline. When you make an extra payment toward principal—even a small one—you're not just reducing what you owe. You're also cutting years off your loan and saving significantly on interest over time. It sounds simple, but a lot of homeowners don't realize they have this option, or they're not sure how to set it up. The mechanics depend on your loan type and lender, which is why it's worth a conversation. I can walk you through whether this strategy makes sense for your situation and how to structure it so your payments actually land where you want them to. Reach out and let's talk about whether accelerated principal payments could work for you.
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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
Marcus Szczerbacki
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