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Mortgage Market Update
My Mortgage Company
TBD
Tuesday, October 20, 2026
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The debt conversation nobody mentions |
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Hello—this week I want to cover something that surprises a lot of people when they start the mortgage process. Your lender isn't just looking at your home loan; they're looking at everything.
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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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Debt & Borrowing
Why your other debts matter when you buy
When you apply for a mortgage, lenders look at more than just your income. They examine all your debts—credit cards, car loans, student loans, personal lines of credit. That's because your total monthly obligations affect how much home you can afford and what rate you qualify for. The good news: understanding this relationship gives you real power. Paying down other debts before applying, or even before refinancing, can improve your approval odds and potentially unlock better terms. I've seen borrowers strengthen their position simply by tackling a few smaller balances first. If you're thinking about buying or refinancing soon, it's worth a conversation about your full financial picture. Let's talk about your situation and what might move the needle for you.
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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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