Ken Schmidt · October 20, 2026

What to do if your payment feels too high

Mortgage Market Update

My Mortgage Company

Ken Schmidt

Tuesday, October 20, 2026

What to do if your payment feels too high

Sometimes a payment that once fit your budget stops working. Let's talk about your options.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%

Rate trend

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.


Affordability Check

When your payment gets harder to make

If you're carrying a mortgage, you know that life happens—job changes, unexpected expenses, medical bills. Sometimes what felt manageable a year or two ago starts to feel tight. The good news is you have options, and you don't have to wait until you're in real trouble to explore them. Refinancing to a longer loan term, adjusting your loan structure, or even revisiting your overall finances with a fresh set of eyes can open doors you might not realize exist. If your monthly payment has become a strain, that's worth a conversation. I've helped plenty of homeowners find breathing room without losing their home or their peace of mind.

If you'd like to talk through where you stand and what might be possible, I'm here to listen.

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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

M

My Mortgage Company

Ken Schmidt

You are receiving this from Ken Schmidt.  Unsubscribe