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Mortgage Market Update
My Mortgage Company
Sean Fretwell
Tuesday, October 20, 2026
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When should you lock your rate in? |
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One of the biggest decisions in a mortgage application is timing your rate lock. I want to help you think it through clearly.
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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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Locked vs. Floating
Why now matters for your rate lock decision
When you're in the mortgage process, one of the most important choices you'll make is when to lock your interest rate. Some borrowers lock right away for peace of mind. Others wait, hoping rates move in their favor. There's no one-size-fits-all answer, but the decision gets easier when you understand what you're trading off: certainty against possibility. A rate lock protects you from rates going up while you're undergoing the approval process—but it also means you won't benefit if they fall. I help my clients think through their timeline, their risk tolerance, and the current market to make the choice that fits their situation. The key is being intentional about it, not just hoping things work out. Reach out anytime to discuss your rate lock strategy.
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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
Sean Fretwell
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