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Mortgage Market Update
My Mortgage Company
Robin Conley
Tuesday, October 20, 2026
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How rate changes affect what you really pay |
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One of the most useful things I explain to clients is how rates and payments connect. Here's what you need to know.
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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 mortgage rates rise or fall, it affects how much of your monthly payment goes toward principal versus interest. On a fixed-rate loan, your payment amount stays the same, but the split changes—higher rates mean more interest upfront, lower rates mean you build equity faster. This matters because it shapes how quickly you're paying down what you owe. If you're thinking about refinancing or taking out a new loan, understanding this relationship helps you see the real value of a rate change. The best time to talk through your specific situation is before you need to make a decision. Let's walk through what a rate move would mean for your loan.
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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
Robin Conley
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