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Mortgage Market Update
My Mortgage Company
Brad Payne
Tuesday, October 20, 2026
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Which type of mortgage is right for you? |
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Hi there. This week I want to clear up something that doesn't get talked about enough—the difference between loan types and why it matters to your wallet.
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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
Not all mortgages work the same way
When you're shopping for a mortgage or thinking about refinancing, the interest rate gets most of the attention. But the type of loan you choose matters just as much. Some programs let you lock in your rate for the full 30 years. Others adjust over time, which can mean lower payments early on but unpredictability later. A few options let you pay down principal faster or build equity quicker if that's a priority. The right choice depends on how long you plan to stay in your home, your comfort with risk, and what fits your budget today and tomorrow. I'd love to walk you through which programs might make sense for your situation. Reach out and we can talk through which loan structure fits your goals best.
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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
Brad Payne
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