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Mortgage Market Update
My Mortgage Company
Gerardo Marin
Tuesday, October 20, 2026
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Why your rate matters (even if you think it doesn't) |
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Rates are moving, and I know that can feel confusing. Let me break down what it actually means for you and your home.
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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 wonder whether a rate change affects their current mortgage payment. The short answer: it depends on what kind of loan you have. If you're locked into a fixed-rate mortgage, your payment stays the same for the life of the loan — that's the whole point. But if you're considering a new loan, a refi, or you're shopping for a home, rate movements absolutely matter. Higher rates mean higher monthly payments on the same loan amount. Lower rates can free up money in your budget. Understanding this helps you make smarter decisions about timing and what you can actually afford. If you're curious about how today's rates might affect your specific situation, I'm here to walk you through it. Let's talk about what rates mean for your goals — reach out anytime.
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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
Gerardo Marin
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