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Mortgage Market Update
Lenni Oh
Lenni Oh
Tuesday, October 20, 2026
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What happens when you pay a little extra |
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One question I get often is how to move the needle on your mortgage faster. Here's a straightforward answer that might surprise you with its impact.
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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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Paying Extra
The power of one small mortgage payment
One of the easiest ways to build equity faster and pay less interest over time is something you can start doing right now: putting a little extra toward your principal each month. Even a modest additional payment—when done consistently—can shorten your loan term by years and save you real money. The beauty of this approach is that it's entirely up to you. You decide the amount and the timing. Some people round up their payment; others put bonus income toward principal. It all adds up. If you're curious whether this strategy makes sense for your situation—or how much difference it could realistically make—I'd love to run through the numbers with you. There's no obligation, just clarity. Let's talk about whether extra payments fit your financial goals.
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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 Lenni Oh team any time and we'll walk you through your options. |
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