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Mortgage Market Update
My Mortgage Company
Justin Schnettler
Tuesday, October 20, 2026
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What type of mortgage do you have? |
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Hi there. This week I'm talking about one thing a lot of people don't fully understand about their own mortgage—and it could matter more than you think.
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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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Loan Programs
What your loan type says about your monthly payment
Not all mortgages work the same way. The type of loan you carry—whether it's fixed-rate, adjustable, conventional, FHA, or something else—shapes how your payment behaves over time and how much flexibility you have. Some borrowers are locked in; others have room to move. Understanding what you're holding matters, especially if your situation has changed since you signed the papers. If you've never walked through exactly what your loan does and doesn't allow, now's a good time. I can walk you through it in a few minutes and help you see if there's a better fit for where you are now. Reach out if you'd like to review your current loan and explore what options might work better for your life.
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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
Justin Schnettler
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