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Mortgage Market Update
Melanie Ross
Melanie Ross
Tuesday, October 20, 2026
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When should you think about refinancing? |
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One of the questions I hear most often: is now a good time to refinance? The answer depends on your circumstances, but it's always worth exploring. Here's what you need to know.
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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 Basics
When does it actually make sense to refinance?
Refinancing isn't one-size-fits-all. Some borrowers benefit when rates drop enough to lower their payment or shorten their loan term. Others refinance to tap equity for a home project or to switch from an adjustable rate to a fixed one—especially if their ARM is set to adjust soon. The catch: refinancing has costs, so the math needs to work for your specific situation. If you've had your mortgage for a few years, a conversation about whether refinancing makes sense for you could be worth your time. I'm happy to walk through the numbers with no pressure—sometimes it's the right move, and sometimes it's not. Let's talk through whether refinancing could work for your home and goals.
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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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