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Tuesday, October 20, 2026 |
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Mortgage Market Update
Do you know what kind of mortgage you have?
Hi there — I'm sharing something simple this week that makes a real difference.
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National Mortgage Rates · October 16, 2026
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Conventional 30-Year
7.03%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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
Not all mortgages work the same way
I talk to a lot of homeowners who've never really thought about which type of loan they have — they just know their monthly payment. But the program you choose affects how your payment stays stable (or doesn't), how quickly you build equity, and what options you have down the road. Some loans have fixed rates and payments for the full term. Others adjust over time. Some let you put down less upfront; others reward a larger down payment. Understanding what you're in — and whether it still fits your life — is worth a conversation. I'm happy to walk through the details of your current loan or talk through what might make sense if you're thinking about a new one.
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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 Jake Kornberg team any time and we'll walk you through your options.
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5060 Baker Rd Minnetonka, MN. 55345
612-396-0227
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