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Mortgage Market Update
My Mortgage Company
Jeffrey Dale Driggers
Tuesday, October 20, 2026
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The real cost of your interest rate |
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There's a lot of noise around mortgage rates every week. Here's what actually matters when yours changes.
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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 rate matters more than you think
When rates move, two things happen to your loan: your monthly payment shifts, and the total interest you'll pay over the life of the mortgage changes significantly. Even a small rate difference compounds over 15 or 30 years. That's why it pays to understand where rates are right now and whether your current loan still makes sense for your situation. If you locked in a rate years ago, it's worth knowing how you'd compare if you were shopping today. The math isn't just about this month—it's about the whole picture. Let's talk about what your rate means for your financial picture.
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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
Jeffrey Dale Driggers
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