Mortgage Market Update

My Mortgage Company

Jaclyn Richards

Tuesday, October 20, 2026

Picking the right loan type for your goals

Hi there—this week I want to walk you through something that often gets overlooked in mortgage conversations. Your loan program is just as important as your rate.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%

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.

Loan Programs

Why your loan type matters more than you think

Most people focus on interest rates when they're shopping for a mortgage, but the loan program itself shapes your entire borrowing experience. Fixed-rate mortgages lock in stability—your payment never changes. Adjustable-rate loans may start lower but can shift over time. Conventional, FHA, VA, and USDA programs each come with different rules about down payments, credit requirements, and who qualifies. The right choice depends on your timeline, how long you plan to stay in the home, and your comfort with risk. I've seen borrowers save thousands by matching their situation to the right program, not just chasing the lowest teaser rate. Understanding these differences helps you avoid surprises down the road.

Let's talk about which loan program makes the most sense for your situation.

Tip of the Week

Your loan officer can run a credit simulator to show exactly which actions will move your score the most.

Tips for Homeowners

Year-End Tax & Mortgage Planning

1.	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).

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Jaclyn Richards

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