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Mortgage Market Update
Jessica Glaeser
Tuesday, October 20, 2026
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When rates move, does your budget shift? |
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Hi there. I wanted to cover something I hear about a lot: how rate changes actually affect what you can afford to buy or refinance into.
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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 mortgage payment climbs, here's what changes
If you've locked in a rate, your payment stays the same. But if you're shopping now or about to adjust an ARM, rising rates do affect what you can actually afford to borrow. When rates move, the monthly payment on the same loan size goes up—which means to stay within your budget, you'd need to borrow less. The flip side: if rates fall, that same budget stretches further. This is why I always tell clients to think in terms of what monthly payment fits your life, not just what loan amount feels possible. We can work backward from your comfort zone to figure out what to pursue. Let's talk about where you stand. Reach out and we can walk through what a realistic payment range looks like for you.
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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 Jessica Glaeser team any time and we'll walk you through your options. |
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