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Mortgage Market Update
My Mortgage Company
Lucy Thornton
Tuesday, October 20, 2026
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What's actually in your monthly payment? |
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One of the most common questions I hear is whether a mortgage payment can change after closing. The answer depends on the type of loan you have — and it's worth understanding.
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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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Payment Planning
Why your mortgage payment might change (and when)
If you have an adjustable-rate mortgage or a loan with an escrow account, your monthly payment isn't always locked in stone. ARM rates adjust on a set schedule, which means your principal and interest portion can go up or down. Even fixed-rate borrowers see payment swings when property taxes or insurance costs change — those dollars get rolled into your escrow and passed along to you. Understanding what's in your payment and what can shift helps you budget smarter. If you're unsure whether your payment is fixed or subject to change, or you want to understand exactly where your money goes each month, I'm here to walk through it with you. Let's review your loan details and talk through what to expect down the road.
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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
Lucy Thornton
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