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Mortgage Market Update
My Mortgage Company
Lynnette Brown
Tuesday, October 20, 2026
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Why your mortgage payment might change |
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Interest rates are always in motion, and it's natural to wonder what that means for your wallet. Here's what you need to know.
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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 change
A lot of people ask me how rate movements actually affect their monthly mortgage bill. Here's the straightforward answer: if you have a fixed-rate loan, your payment stays locked in no matter what happens to rates in the market. That stability is one reason fixed-rate mortgages are so popular. But if you're considering adjustable-rate options or thinking about refinancing into a different loan, rate changes do matter. When rates go up, your payment potential goes up. When rates go down, a refinance could lower what you're paying each month. The key is understanding your own loan and what options make sense for your situation. I'm always happy to walk through the numbers with you. Let's talk about whether your current loan is working 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 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
Lynnette Brown
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