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Mortgage Market Update
My Mortgage Company
Barrett Financial Group
Tuesday, October 20, 2026
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What kind of mortgage are you actually in? |
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Hi there. I wanted to touch base about something I think gets overlooked a lot—understanding your own loan.
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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
Which loan type actually fits your situation?
Not all mortgages are created equal, and the right one for you depends on your timeline, down payment, and comfort level with risk. Fixed-rate loans lock in the same payment for the life of the loan—straightforward and predictable. Adjustable-rate programs start lower but can change over time, which works well if you plan to move or refinance before rates adjust. Government-backed options like FHA and VA have their own rules and benefits. Then there's the question of loan length: 15 years builds equity faster, while 30 years keeps monthly payments lower. I've seen borrowers pick the wrong program because they didn't understand what each one actually meant for their wallet and lifestyle. The good news is this isn't something you have to figure out alone. Let's talk through which program makes the most sense for where you are right now.
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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
Barrett Financial Group
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