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Mortgage Market Update
My Mortgage Company
Darius Bryant — Darius Bryant
Tuesday, October 20, 2026
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Should you pay extra on your mortgage? |
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One of the smartest questions I get asked is about making extra payments toward a home loan. This week, let's look at when that strategy really pays off.
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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
When paying extra on your mortgage actually works
A lot of homeowners ask me whether throwing extra money at their mortgage principal is worth it. The honest answer: it depends on your bigger financial picture. Extra payments can build equity faster and reduce the total interest you'll pay over the life of the loan — but only if you're not sacrificing an emergency fund, high-interest debt payoff, or other financial goals. Sometimes keeping cash available matters more than paying down your home loan early. The right move is personal to your situation, which is why I'm always happy to walk through the numbers with you and help you figure out what makes sense for your household. If you're wondering whether extra mortgage payments fit into your plan, let's talk through it.
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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
Darius Bryant — Darius Bryant
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