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Mortgage Market Update
Matthew McGuire
Matthew McGuire
Tuesday, October 20, 2026
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Low rate doesn't always mean low cost |
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A lot of borrowers assume the lowest interest rate is the obvious choice. But mortgage shopping is a little more nuanced than that.
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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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Loan Program Fit
Why the cheapest rate isn't always the best deal
When you're shopping for a mortgage, it's natural to focus on interest rate first. But the lowest rate doesn't automatically mean the lowest cost or the right fit for your situation. Different loan programs come with different trade-offs: some have lower rates but higher upfront costs, others build flexibility into the terms, and some work better if you're planning to stay in your home for decades versus a few years. The best program for you depends on your timeline, how much you can put down, your credit profile, and what matters most to your monthly budget. That's why I always recommend looking at the full picture, not just the headline number. I'd love to walk you through your options and help you understand what each program really costs over time. Let's find the program that actually works for your plan.
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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 Matthew McGuire team any time and we'll walk you through your options. |
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