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Mortgage Market Update
My Mortgage Company
Elite Lending Team
Tuesday, October 20, 2026
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One simple way to pay off faster |
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I talk to homeowners every week who wish they'd understood their payoff options earlier. Here's something that often surprises people.
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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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Getting Ahead
One move that builds equity faster
Most people don't realize how much control they have over their own mortgage payoff timeline. Making an extra payment toward principal each year—even just one—can shorten your loan by years and save you a significant amount in interest over time. It doesn't require a big financial overhaul; it's about being intentional with money you're already earning. Some borrowers do this with a bonus or tax refund. Others split one monthly payment across two smaller payments. The point is that even modest principal reductions compound over decades. If you're curious whether a strategy like this makes sense for your situation, I'm happy to run the numbers with you. Let me show you how this could 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
Elite Lending Team
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