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Mortgage Market Update
Brian Thompson
Brian Thompson
Tuesday, October 20, 2026
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The real cost of your mortgage |
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Hi there,
I wanted to share something I think gets overlooked when people are comparing mortgages.
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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
Why your interest rate isn't the whole story
When you're shopping for a mortgage, the interest rate gets all the attention. But here's what I see working with borrowers every week: the rate matters, but it's only part of the picture. Your actual cost depends on the loan term, any points you pay upfront, your down payment size, and the type of loan itself. A lower rate might come with higher fees. A longer loan term means lower monthly payments but more interest paid over time. The best choice for your neighbor might not be the best choice for you. That's why I always recommend looking at the complete package—not just chasing the lowest number you see. Want to talk through what makes sense for your specific situation? Let's walk through your options together and find the right fit.
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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 Brian Thompson team any time and we'll walk you through your options. |
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