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Mortgage Market Update
My Mortgage Company
Ziona Montes
Tuesday, October 20, 2026
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Your rate drops—but here's the real win |
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Some mortgage moves feel small on the surface. But the math underneath can add up to real value over the life of your loan.
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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 & Budgeting
When your payment stays the same but your rate drops
A lot of people don't realize that a lower interest rate doesn't always mean a lower monthly payment—at least not right away. If you refinance into a new loan term, your payment could stay roughly the same even though you're paying less interest. The difference? That extra money goes toward principal instead, which builds equity faster and shortens your payoff timeline without straining your budget. It's one of those invisible wins that compounds over time. If you're curious whether this strategy makes sense for your situation, I'd love to walk through the numbers with you. Let's talk about whether a rate move could work in your favor.
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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
Ziona Montes
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