Mortgage Market Update

My Mortgage Company

Chris McGahan

Tuesday, October 20, 2026

Which type of mortgage fits you?

Hi there—this week I want to talk about loan programs and why the type of mortgage you choose matters as much as the rate itself.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%

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.

Loan Program Fit

Picking the right loan type matters more than you think

Not all mortgages work the same way, and the loan program you choose affects everything: your monthly payment, how long you pay, and what happens if rates move. Some borrowers do best with a fixed rate that stays the same for 15 or 30 years. Others benefit from adjustable options or specialized programs designed for specific situations—whether you're buying your first home, have a non-traditional income, or are working with a smaller down payment. The right choice depends on your timeline, risk comfort, and financial picture. If you're unsure which type makes sense for you, that's exactly what I'm here to walk through. Let's talk about what's actually available to you.

Reach out and we can review which loan program fits your goals best.

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

My Mortgage Company

Chris McGahan

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