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Mortgage Market Update
My Mortgage Company
Veronica Canchola
Tuesday, October 20, 2026
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Picking the right type of mortgage |
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Not every mortgage is built the same. Here's what you should know about the different options available to you.
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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
Not all mortgages work the same way
One of the biggest decisions you make isn't just about the interest rate—it's about which type of loan fits your situation. Fixed-rate mortgages stay stable for the life of the loan. Adjustable-rate options may start lower but can change over time. Government-backed programs like FHA, VA, and USDA loans have different rules and benefits than conventional mortgages. Some borrowers can qualify for specialized programs based on their income, location, or circumstances. The right choice depends on how long you plan to stay in your home, how comfortable you are with payment changes, and what you can actually qualify for. I'd love to walk you through which programs might make sense for your goals and timeline. Let's talk about which loan type is the best fit 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
Veronica Canchola
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