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Mortgage Market Update
My Mortgage Company
Jill McCain
Tuesday, October 20, 2026
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What's really going into your monthly payment |
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A lot of homeowners aren't quite sure what they're paying for each month. Let me clear that up.
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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 payment stays the same (and when it doesn't)
One of the most misunderstood parts of homeownership is what happens to your monthly payment over time. If you have a fixed-rate mortgage, that payment is locked in—it won't budge for the life of the loan, which gives you real peace of mind. But there are a few things that can still change your total out-of-pocket cost each month: property taxes, homeowners insurance, and if you're carrying PMI, that insurance can eventually fall off once you've built enough equity. Understanding these moving pieces helps you budget better and know what to expect year to year. If you're curious about what's actually baked into your payment, or wondering if any of these costs might shift soon, I'd love to walk through it with you. Reach out if you want a clear breakdown of what makes up your monthly payment.
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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
Jill McCain
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