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Mortgage Market Update
Jim Hoggan
Jim Hoggan
Tuesday, October 20, 2026
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Know what your loan actually lets you do |
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There's a lot that goes into a mortgage beyond the rate and the payment. This week I want to make sure you understand the loan you're living with—and what options it leaves open for you down the road.
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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 Program Update
What your loan type means for your flexibility
Your mortgage is more than just a monthly payment—it's also a contract with specific terms and options built in. Whether you have a fixed-rate loan, an adjustable option, or something else entirely, understanding what you signed up for matters when life changes or financial opportunities come up. Some loan structures give you more room to refinance, prepay, or tap equity down the road. Others come with different advantages upfront. I work with borrowers all the time who don't realize what doors are (and aren't) open to them. If you're thinking about your home's role in your financial future, it's worth knowing exactly what kind of loan you're carrying. Let's talk about what your current loan can do 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 Jim Hoggan team any time and we'll walk you through your options. |
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