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Mortgage Market Update
My Mortgage Company
Greg Lomba
Tuesday, October 20, 2026
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Why your payment might not change when rates move |
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Rates are always moving, but not every rate move affects your wallet the same way. Here's what you need to know.
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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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Payment Planning
What happens to your payment when rates move
A lot of people ask me whether a rate change automatically means their monthly payment goes up or down. The answer depends on what kind of loan you have. If you're in a fixed-rate mortgage, your payment stays the same for the entire life of the loan—rates could climb tomorrow and it wouldn't touch your payment at all. That's the peace of mind a fixed rate gives you. If you have an adjustable-rate loan, that's different; when rates move, your payment adjusts too. Either way, understanding how your loan works helps you plan ahead and make smarter decisions about your money. If you're curious about what your specific situation looks like, I'm happy to walk through it with you. Reach out if you'd like to talk through how rates and payments work for your loan.
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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
Greg Lomba
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