Mortgage Market Update

My Mortgage Company

Michael Pennington

Tuesday, October 20, 2026

Which loan program fits your situation

There's more than one way to get a mortgage. This week, let's talk about why that matters.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%

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.

Loan Programs

Not all mortgages work the same way

If you're shopping for a home or thinking about refinancing, you've probably heard terms like fixed-rate, adjustable-rate, FHA, and conventional tossed around. Here's what matters: different loan programs have different rules about down payments, credit score requirements, and how your payment works over time. The right program for you depends on your situation—how long you plan to stay, what you can put down, and how comfortable you are with your payment changing. I've worked with borrowers who saved money by choosing a program that matched their actual plans, and others who picked the wrong one and regretted it. Let's talk about which program makes sense for where you are right now.

Reach out, and we can walk through your options together.

Tip of the Week

Your loan officer can run a credit simulator to show exactly which actions will move your score the most.

Tips for Homeowners

Year-End Tax & Mortgage Planning

1.	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).

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Michael Pennington

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