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Mortgage Market Update
My Mortgage Company
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Tuesday, October 20, 2026
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What a rate lock actually protects |
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One question I hear often from borrowers is about rate locks—what they are and why they matter. Let me explain how this works and why it's such a valuable part of the mortgage process.
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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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Loan Programs
What happens when you lock in your rate
One of the most important moments in your mortgage journey is when you decide to lock your interest rate. Once you do, your rate is protected—even if market rates move around over the next few weeks while your loan is processing and moving toward closing. This protection matters because it gives you certainty about your monthly payment and lets you plan with confidence. Different loan programs offer different lock periods, so it's worth understanding what you're getting and how long that protection lasts. If you're curious about how a rate lock works for your specific situation, I'd love to walk you through it. Reach out anytime if you'd like to talk through rate locks and what they mean for your timeline.
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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
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