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Mortgage Market Update
Kyle Cosky
Kyle Cosky
Tuesday, October 20, 2026
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Why your mortgage payment just changed |
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Most people know their rate, but fewer understand all the moving parts of their monthly bill. Here's what you should know.
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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 monthly payment might change (even if rates don't)
A lot of people think their mortgage payment is locked in for life—and for most of us, the principal and interest part is. But property taxes and homeowners insurance can shift over time, and if you have an escrow account (where we handle those payments for you), your monthly bill can go up or down as those costs change. It's worth understanding what's in your payment so surprises don't catch you off guard. If your payment has changed recently or you're curious what you're actually paying for each month, I'm happy to walk you through your statement and explain exactly where every dollar goes. Reach out if you'd like me to review your payment breakdown with you.
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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 Kyle Cosky team any time and we'll walk you through your options. |
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