Justin Connolly · October 20, 2026

When your payment feels like too much

Mortgage Market Update

My Mortgage Company

Justin Connolly

Tuesday, October 20, 2026

When your payment feels like too much

Sometimes our circumstances shift faster than our mortgages do. Here's what to know if affordability has become a real concern.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%

Rate trend

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.


Affordability Check

When your mortgage payment starts to feel tight

Life changes. A job shift, a growing family, unexpected expenses—sometimes what felt manageable a year or two ago starts to strain your budget. If you're in that spot, you're not alone, and you have more options than you might think. Depending on your situation, you could explore refinancing to a longer loan term, look into loan modification programs, or simply get a clear picture of where your equity stands and what flexibility it gives you. The first step is always a conversation—no pressure, just honest numbers. I can walk you through what's realistic for your situation and what doors might actually be open.

Let's talk through your options and find what works for your life right now.

Tip of the Week

Your loan officer can run a credit simulator to show exactly which actions will move your score the most.

Tips for Homeowners

Year-End Tax & Mortgage Planning

1.

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).

2.

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.

3.

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.

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.

Your Mortgage Advisor

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My Mortgage Company

Justin Connolly

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