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Mortgage Market Update
Jason Erickson
Jason Erickson
Tuesday, October 20, 2026
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Down payment: smaller or larger? |
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Hi there. This week I want to walk through one of the most important numbers in homebuying—and why it's worth thinking through carefully.
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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 Strategy
Why your down payment size matters more than you think
The amount you put down when you buy isn't just about the number itself—it shapes your entire loan from day one. A larger down payment can lower your monthly payment, reduce the amount you're borrowing, and sometimes open doors to better loan terms. On the flip side, there are loan programs designed specifically for buyers who want to put down less and still move forward. The key is understanding what makes sense for your situation right now: your savings, your timeline, and what you're comfortable with long-term. There's no one-size-fits-all answer, which is exactly why it's worth talking through your options before you decide. Let's look at what a down payment conversation might look like 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 Jason Erickson team any time and we'll walk you through your options. |
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