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Mortgage Market Update
My Mortgage Company
Xpert Home Loans - Sheila Garcia
Tuesday, October 20, 2026
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Rate changes do more than raise payments |
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The relationship between mortgage rates and home affordability isn't always obvious. Here's what you need to know.
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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
What happens to your buying power when rates shift
When mortgage rates move, it's easy to focus on the rate itself and miss what really matters: how it changes what you can afford. A rate increase doesn't just mean a higher monthly payment on the same loan amount—it actually reduces how much home you can purchase with the same monthly budget. The opposite is true when rates drop. Understanding this relationship helps you make smarter decisions about timing, home price targets, and whether to refinance an existing mortgage. If you're thinking about buying or already own a home, knowing how rate changes affect your financial flexibility is worth a conversation. Let's talk through what rate movement means for your specific situation.
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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
Xpert Home Loans - Sheila Garcia
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