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Mortgage Market Update
My Mortgage Company
Adam Felkey
Tuesday, October 20, 2026
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Rate changes and your monthly payment |
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Hi there—I wanted to clarify something that comes up a lot in conversations with borrowers. Here's how rates and payments actually connect.
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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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Payment Planning
What happens to your payment when rates move
One question I hear often: if rates go up or down, does my payment change? The short answer depends on your loan type. With a fixed-rate mortgage, your payment stays the same for the life of the loan—rate moves don't touch it. With an adjustable-rate loan, your payment can shift when the rate adjusts. Understanding this difference matters when you're deciding which loan fits your situation. Whether you're locking in a fixed rate for stability or exploring an ARM, knowing how rate changes affect you helps you plan your budget with confidence. If you'd like to talk through which loan structure makes sense for your goals, I'm here to walk you through it.
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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
Adam Felkey
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