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Mortgage Market Update
My Mortgage Company
Teddy Pendergrass Capital Inc.
Tuesday, October 20, 2026
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Your interest rate explained |
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Hello,
I want to walk you through something that affects your mortgage more than almost anything else.
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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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Mortgage Basics
Why your interest rate matters more than you think
Your interest rate isn't just a number—it shapes your entire loan. A higher rate means higher monthly payments, more interest paid over time, and less of each payment going toward building equity. A lower rate does the opposite. That's why checking where rates stand today makes sense, especially if you haven't looked in a while. Even small moves in rates can shift what you can afford or whether refinancing pencils out. The good news is you have options, and understanding your rate is the first step to using them wisely. Let me pull your numbers and show you what your rate really means for your situation.
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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
Teddy Pendergrass Capital Inc.
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