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Mortgage Market Update
My Mortgage Company
Armando Mungioli
Tuesday, October 20, 2026
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Your mortgage payment and interest rates |
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Hi there. This week I want to clear up a common question about how mortgage rates and monthly payments connect—because it matters more than you might think.
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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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Cash Flow
What happens to your payment when rates shift
I get asked this a lot: if rates go up or down, does my payment change? The answer depends on what kind of loan you have. If you have a fixed-rate mortgage, your payment stays the same no matter what happens in the market—that's the whole point of locking in a rate. But if you're considering a new loan or refinancing, rate changes do affect what you'll pay each month. Higher rates mean higher payments on the same loan amount; lower rates mean lower payments. Understanding this helps you make smarter decisions about timing and whether to act on a refinance opportunity. Want to know what your payment might look like under different rate scenarios? I'm happy to walk through that with you. Let's talk through how rate changes might affect 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
Armando Mungioli
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