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Mortgage Market Update
My Mortgage Company
Pete Green
Tuesday, October 20, 2026
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Why your payment might not change when rates do |
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Hi there. I wanted to clear up a common question I hear almost every week about how interest rates and monthly 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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Mortgage Basics
What happens to your payment when rates move
When interest rates change, a lot of people assume their monthly payment will shift too — but the truth depends on what kind of loan you have. If you're locked into a fixed-rate mortgage, your payment stays exactly the same for the life of the loan, even if rates climb or drop tomorrow. That stability is one reason fixed-rate loans are so popular. The rate environment does matter if you're thinking about refinancing, though, or if you're shopping for a new loan and wondering how affordability might change. Understanding this difference helps you make smarter decisions about when to move forward and when to wait. I'm always happy to walk through how rate movement specifically affects your situation. Let me know if you'd like to talk through how rates impact your options.
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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
Pete Green
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