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Mortgage Market Update
My Mortgage Company
Josh Lyon
Tuesday, October 20, 2026
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When rates move, your budget moves too |
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Hi there,
One of the most helpful conversations I have with borrowers isn't about rates themselves—it's about what rates mean for their specific financial picture.
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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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Affordability Check
What happens to your budget when rates move
When mortgage rates shift, it changes more than just the interest you pay—it affects your buying power and the monthly payment on any new loan. If rates go up, you may qualify for a smaller loan amount at the same budget. If rates drop, that same budget could stretch further. It's one reason I recommend checking in periodically, even if you're not actively buying or refinancing right now. Understanding how rate movement touches your financial picture helps you make smarter decisions, whether that's locking in today, waiting for conditions to shift, or exploring what your home equity can do for you. I'm here to walk through the numbers with you whenever you're ready. Let's talk through how current conditions fit your situation.
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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
Josh Lyon
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