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Mortgage Market Update
My Mortgage Company
Toby Gilchrist
Tuesday, October 20, 2026
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The loan program matters as much as the rate |
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There's more to choosing a mortgage than picking the lowest rate. The type of loan you choose can affect your flexibility, your costs, and your peace of mind.
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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
When you're shopping for a mortgage, the interest rate gets most of the attention — but the loan program itself shapes your entire borrowing experience. Fixed-rate mortgages lock in your payment for the life of the loan. Adjustable-rate mortgages start lower but can shift over time. FHA, VA, and conventional loans each have different rules about down payments, credit needs, and what kind of property qualifies. Some borrowers benefit from programs designed for first-time buyers; others have options specifically built for rural or high-cost areas. The right program for you depends on how long you plan to stay, your comfort with payment changes, and your financial situation. I'd love to walk you through which programs make sense for your goals. Let's talk about which loan program fits your situation best.
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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
Toby Gilchrist
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