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Mortgage Market Update
My Mortgage Company
Chad Pennington — Lindsey Pennington
Tuesday, October 20, 2026
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Rate moves change your home budget |
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Hi there. This week I want to talk about something that connects rates directly to your wallet.
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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 rate changes, so does what you can afford
A lot of people think about rates in isolation—just a number that goes up or down. But here's what actually matters: your monthly payment. When rates move, the amount you pay each month shifts, which means the price range you can comfortably afford shifts too. This is especially important if you're thinking about buying soon, or if you've been waiting on the sidelines. The home that fits your budget today might look different next month. That's not scary—it's just how it works. The smart move is to stay connected to what's happening with rates so you know what you're working with. I'm always happy to walk through your situation and show you how the numbers play out for your household. Let's talk about what you can afford right now—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
Chad Pennington — Lindsey Pennington
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