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Mortgage Market Update
My Mortgage Company
Armando Cornejo
Tuesday, October 20, 2026
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Looking beyond the monthly payment |
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One of the most common questions I hear is about affordability. Let me share what I think is the real story.
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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
Why your payment might matter less than you think
When you're looking at a mortgage, it's natural to focus on the monthly payment—that's the number you'll see in your checking account every month. But I've learned that borrowers who only look at payment are missing something important. The real picture includes what you're paying toward principal versus interest, how long you're financing the loan, and what happens if rates move. Two loans with similar payments can have very different outcomes over time. That's why I always encourage people to step back and look at the whole structure, not just the number itself. If you'd like to talk through what actually matters most for your situation, I'm here. Let's dig into what a realistic loan structure looks like 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 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
Armando Cornejo
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