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Mortgage Market Update
My Mortgage Company
Elisa Ryken
Tuesday, October 20, 2026
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When rates move, your budget moves too |
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Hi there. Rates have been active lately, and that ripples into real decisions for homeowners and buyers like you. Here's what's worth paying attention to.
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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
Interest rate changes do two things at once: they affect what you can afford to borrow, and they change your monthly payment on any existing loan. If you're a homeowner thinking about selling or refinancing, or a buyer watching the market, it helps to know which way the pressure flows. When rates rise, your purchasing power typically decreases—lenders will approve you for less. When rates fall, the opposite happens. But here's what many people miss: a rate change doesn't just affect approval amounts. It directly reshapes your monthly payment, sometimes by meaningful margins. That's why I like to run affordability scenarios with clients when rates shift noticeably. It keeps everyone grounded in what's actually realistic for their household. Let me know if you'd like to talk through how recent rate movement affects your specific 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
Elisa Ryken
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