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Mortgage Market Update
My Mortgage Company
Brian Klotz
Tuesday, October 20, 2026
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Why your payment went up (it's probably not rates) |
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Hi there. This week I want to clear up something that surprises a lot of homeowners when they get their bill.
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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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Mortgage Basics
Why your payment might change even if rates don't
Most people think their mortgage payment stays locked in forever—and for a fixed-rate loan, the principal and interest portion does. But homeownership brings other costs that live on your statement: property taxes, insurance, and if applicable, PMI or HOA fees. When any of these go up, your total monthly payment climbs too, even if interest rates haven't budged. Understanding what's actually in that payment helps you budget better and spot when refinancing or other moves might make sense. If your payment has crept up lately and you're wondering why, I'd love to walk through your statement with you. Let's review what's driving your payment and talk through your options.
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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
Brian Klotz
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