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Mortgage Market Update
Scott McNeilly
Scott McNeilly
Tuesday, October 20, 2026
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Your mortgage type matters more than you think |
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Hi there. This week I want to touch on something that doesn't always get the attention it deserves: the type of loan you choose shapes everything about your mortgage experience.
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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 surprises I hear from borrowers is that they didn't realize how many different loan options existed—or how much each one changes what you actually pay. A fixed-rate mortgage works completely differently from an adjustable one. An FHA loan has different rules than a conventional loan. VA loans, USDA loans, portfolio programs—they all have their own strengths depending on your situation. The right choice for your neighbor might not be the right one for you. That's why I always spend time understanding your goals, timeline, and comfort level before recommending anything. When you know what you're signing up for, there are no surprises later. If you're curious whether your current loan is the best fit for where you are now, let's talk.
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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 Scott McNeilly team any time and we'll walk you through your options. |
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