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Mortgage Market Update
Myrna Hernandez
Myrna Hernandez Venzor
Tuesday, October 20, 2026
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Which mortgage type fits your situation |
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Hi there. This week I want to walk you through something that doesn't get enough attention when people are shopping for a home loan.
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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
Not all mortgages work the same way
When you're shopping for a mortgage—whether you're buying or refinancing—the interest rate gets most of the attention. But the type of loan you choose matters just as much. Fixed-rate mortgages, adjustable-rate options, FHA loans, conventional programs—each has different rules about what you put down, how long you have to pay, and what happens to your payment over time. The right choice depends on your situation: how long you plan to stay, what you can afford now versus later, and how much certainty you need. I've seen borrowers save money and sleep better at night just by picking the loan structure that actually fits their life. Let's talk through which loan program makes sense for where you are right now.
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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 Myrna Hernandez team any time and we'll walk you through your options. |
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