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Mortgage Market Update
My Mortgage Company
Jim Scheu
Tuesday, October 20, 2026
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Picking the right loan type for your home |
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Hi there. This week I want to talk about something that doesn't get enough attention in the mortgage conversation: the loan program itself.
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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
Why your loan type matters more than you think
Most people focus on interest rates when they're shopping for a mortgage, but the type of loan you choose can be just as important to your long-term financial picture. Different loan programs come with different rules about how your rate behaves, how much you can borrow, and what flexibility you have down the road. A fixed-rate loan keeps things predictable. An adjustable option might start lower but can change. Some programs require less down, others reward larger payments. The right choice depends on your timeline, your comfort with uncertainty, and your plans for the home. I'd rather see you pick the loan that fits your life than chase the lowest rate on the wrong product. Let's talk through what makes sense for your situation. Reach out and we can walk through what each loan type would actually look like for you.
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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
Jim Scheu
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