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Mortgage Market Update
My Mortgage Company
Colin Whitermore
Tuesday, October 20, 2026
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When rates move, what actually changes |
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Mortgage rates are always moving—sometimes a lot, sometimes just a little. Here's what that actually means for you.
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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 shift
When mortgage rates move, it affects two different groups of people in two different ways. If you're locked into a fixed-rate loan, your payment stays the same—rate changes don't touch it. But if you're shopping for a mortgage or considering a refinance, movement in rates changes what you'd qualify for and what your new payment would be. The relationship is direct: rates go up, your payment goes up; rates go down, your payment goes down. That's why staying informed matters. Even small rate changes can shift what's affordable for you or what makes refinancing worth the effort. If you're curious about how today's rates might affect your specific situation, I'd love to take a look. Reach out anytime—I'm here to walk you through what rate movement means for your goals.
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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
Colin Whitermore
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