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Mortgage Market Update
My Mortgage Company
Elle Zimmerman
Tuesday, October 20, 2026
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Why some borrowers switch loan types |
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When rates move or your financial picture shifts, it's natural to wonder if your current loan is still the best fit. This week I want to talk about what it really means to change programs—and how to know if it's worth considering.
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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 Programs
What changes when you switch loan types
A lot of borrowers ask me whether they should move from one type of loan to another—maybe from an adjustable rate to a fixed rate, or from a conventional loan to an FHA loan. The answer depends on your situation, but there are real trade-offs worth understanding. Switching programs can affect your monthly payment, the total interest you pay over time, your down payment requirement, and even your closing costs. Some moves make sense; others don't. The key is knowing what actually changes and why it matters to your specific goals. If you've been wondering whether a different loan type might work better for you, let's talk through the details together. If you'd like to explore what's possible with your current loan, I'm here to walk you through it.
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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
Elle Zimmerman
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