Mortgage Market Update

Collin Johnson

Tuesday, October 20, 2026

What your loan type really means for you

Hi there. I wanted to share some clarity on a choice that affects borrowers more than they realize.

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 Basics

Why your loan type matters more than you think

Most people focus on interest rates when they're shopping for a mortgage, but the type of loan you choose shapes your entire borrowing experience. Fixed-rate loans keep your payment steady for the life of the loan—simple and predictable. Adjustable-rate loans start lower but can change over time. FHA, conventional, VA, USDA programs each come with different rules about down payments, credit requirements, and what you can borrow. The right choice depends on your timeline, how long you plan to stay in the home, and your comfort level with payment changes. I'd be happy to walk you through which structure makes sense for your situation.

Let's talk about which loan type fits your goals—reach out anytime.

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 Collin Johnson team any time and we'll walk you through your options.

Your Mortgage Advisor

Collin Johnson

Collin@7mtg.com

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