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Mortgage Market Update
My Mortgage Company
Thomas Johannsen
Tuesday, October 20, 2026
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When rates change, what actually changes for you |
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A lot of homeowners and buyers wonder about the real-world impact of rate movements. This week I'm breaking down the connection between what rates are doing and what it means for your wallet.
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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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Mortgage Basics
What happens to your payment when rates move
A lot of people ask me what rate changes actually mean for their monthly mortgage bill. Here's the straightforward answer: when rates go up, your payment goes up. When rates go down, your payment goes down. But the connection isn't always obvious, especially if you're thinking about refinancing an existing loan versus getting approved for a new one. The rate environment affects both your ability to qualify and what you'll actually owe each month. If you're curious about where you stand right now—whether a rate shift opens up new options for you—that's worth a conversation. I can walk you through what's realistic for your situation. Reach out if you'd like to talk through how current rates might affect your options.
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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
Thomas Johannsen
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