Mortgage Market Update

Bruce Gruys

Tuesday, October 20, 2026

Picking the right loan type matters

Hi there. This week I want to talk about something that gets overlooked when rates steal all the attention: the actual structure of your mortgage.

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

Not all mortgages work the same way

When you're shopping for a loan, it's easy to focus only on the interest rate. But the type of mortgage you choose—fixed, adjustable, conventional, FHA, VA—shapes your payment stability, how fast you build equity, and what happens down the road. Each program has different rules about down payments, credit requirements, and how your rate behaves over time. The right choice depends on your timeline, how long you plan to stay in the home, and your comfort with change. I'd be happy to walk you through what each option means for your specific situation.

Reach out anytime you want to explore which loan type makes sense for you.

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 Bruce Gruys team any time and we'll walk you through your options.

Your Mortgage Advisor

Bruce Gruys

bgruys@canopymortgage.com

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