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Mortgage Market Update
My Mortgage Company
Eric Benitez
Tuesday, October 20, 2026
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Does your payment change when rates move? |
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Hi there. I want to clear up a common question I hear about how rates and payments actually work together.
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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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Payments & Rates
When rate changes actually hit your wallet
A lot of people ask me: if rates move, does my payment change right away? The answer depends on your loan type. If you have an adjustable-rate mortgage, yes—when your rate adjusts, your payment adjusts with it. If you're locked into a fixed rate, your payment stays the same for the life of the loan. That stability is one reason many borrowers prefer fixed rates, even when adjustable options look cheaper upfront. The tradeoff is worth understanding before you sign. Either way, knowing how your specific loan works means no surprises down the road. If you're not sure what type of rate you have, I'm happy to walk you through it.
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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
Eric Benitez
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