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Mortgage Market Update
Melanie Ross
Melanie Ross
Tuesday, October 20, 2026
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When does refinancing actually pay off? |
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Refinancing sounds like it should always be a win. But the details matter, and I want to help you see the full picture.
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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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Refinancing Strategy
When a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit outweighs your costs and how long you plan to stay in your home. If you're thinking about moving in a few years, closing costs might never pay for themselves. But if you're settled in, a lower rate or a shorter loan term could meaningfully reduce what you owe over time. The math matters more than the rate. I help borrowers work through this calculation so you can decide with confidence, not guesswork. Let's talk through whether refinancing makes sense 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 Melanie Ross team any time and we'll walk you through your options. |
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