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Mortgage Market Update
My Mortgage Company
Felipe Aguila
Tuesday, October 20, 2026
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The mortgage payment is only part of the cost |
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Hi there. This week I want to talk about something that catches a lot of borrowers off guard: what it really costs to own a home.
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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 Planning
Your mortgage payment isn't your only housing cost
When people ask me about affordability, they often focus on the monthly mortgage payment alone. But here's what I see trip up borrowers: property taxes, insurance, HOA fees, and maintenance add up fast—sometimes as much as the loan payment itself. Before you commit to a new mortgage or stretch your budget, it's worth mapping out the full picture of what homeownership actually costs month to month. That way, you're not surprised in six months when the real bill arrives. I'm happy to walk through these numbers with you so you know exactly what to expect. Let's talk through your full housing budget—reach out anytime.
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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
Felipe Aguila
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