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Mortgage Market Update
Michael King
Michael King
Tuesday, October 20, 2026
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Why your mortgage payment might feel different lately |
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I've fielded several calls this week from borrowers wondering about changes in their monthly costs. Here's what's usually going on, and what you can do about it.
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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
When your payment climbs: what's actually happening
If you've noticed your housing costs going up—whether you're paying PMI, property taxes, insurance, or HOA fees—you're not alone. These costs shift over time, and sometimes it feels sudden even though it's gradual. The good news: understanding what's moving makes it easier to plan or explore options like dropping PMI if you've built enough equity, adjusting insurance coverage, or refinancing to a different loan structure if rates have moved favorably. I'm happy to walk through your specific situation and see if there's room to optimize. Sometimes a small adjustment makes a real difference to your monthly budget.
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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 Michael King team any time and we'll walk you through your options. |
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619-944-1137 | https://www.barrettfinancial.com/michael-king
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