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Tuesday, October 20, 2026 |
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Mortgage Market Update
Fixed or adjustable—which one fits you?
One of the most important decisions in getting a mortgage isn't about the rate itself—it's about the type of loan you choose. Let me break down the real difference between fixed and adjustable mortgages.
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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 Program Basics
Fixed vs. adjustable: which loan fits your life?
When you're shopping for a mortgage, one of the biggest choices is whether to go with a fixed-rate loan or an adjustable-rate one. A fixed rate stays the same for the entire life of your loan—your payment never changes, which makes budgeting predictable and simple. An adjustable-rate mortgage (ARM) typically starts lower but can move up after an initial period, which means your payment could rise later on. Neither is inherently "better"—it depends on how long you plan to stay in your home, your comfort with payment uncertainty, and the rate environment right now. I'm happy to walk through both options and help you think through which makes sense for your situation. Let's talk through what loan type aligns with your goals and timeline.
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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 Jon Puente team any time and we'll walk you through your options.
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5860 Baker Road, Minnetonka, MN, 55345
269-599-3395
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