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Mortgage Market Update
My Mortgage Company
LaTisha Elliott, Mortgage Loan Advisor
Tuesday, October 20, 2026
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Your payment and interest rates aren't always tied |
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Hi—this week I want to clear up one of the most common questions I get about mortgages. It's also one of the most important to understand.
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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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Smart Money
Why your payment stays the same (even when rates move)
One thing I hear a lot: "If rates go down, does my payment go down too?" The answer depends on what kind of loan you have. If you have a fixed-rate mortgage, your payment is locked in for the life of the loan—rate changes don't touch it. That's the security of a fixed rate. But if you're considering an adjustable-rate loan, or if you're thinking about refinancing into a different program, rate movement absolutely matters. Understanding the difference between fixed and adjustable structures helps you make smarter decisions about your home financing. Every borrower's situation is different, and the right choice depends on your comfort level, timeline, and goals. Let's talk about which loan structure makes sense for your 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
LaTisha Elliott, Mortgage Loan Advisor
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