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Mortgage Market Update
My Mortgage Company
Barrett Financial - Robert Ianniciello
Tuesday, October 20, 2026
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Fixed vs. adjustable: which do you have? |
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Hi there. Rates have been moving around, and I've had a few people ask whether those changes will affect their monthly payment.
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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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Rate Movement
What happens to your payment when rates change
When interest rates move, borrowers often wonder: does my payment go up or down automatically? The answer depends on your loan type. If you have a fixed-rate mortgage, your payment stays the same for the life of the loan—rate changes don't touch it. If you have an adjustable-rate mortgage, your payment can shift when the rate adjusts, which means your monthly obligation could change. Understanding your loan structure helps you plan ahead and avoid surprises. Even if you're locked in at a fixed rate, knowing how rates move in the market can help you decide whether refinancing makes sense down the road. Let's talk through your situation. Reach out if you'd like to review your loan details and discuss what rate movements might mean for your specific mortgage.
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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
Barrett Financial - Robert Ianniciello
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