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Mortgage Market Update
Nicholas Bastianelli
Nicholas Bastianelli
Tuesday, October 20, 2026
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Should you refinance your mortgage? |
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Sometimes the best financial move is knowing when *not* to act. This week, I want to help you figure out if refinancing belongs on your to-do list.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefit you'd gain over time outweighs the cost and effort of refinancing. This depends on your loan balance, how long you plan to stay in your home, your current rate, and where rates are headed. A lower rate can mean real savings—but only if you'll be there long enough to recoup the closing costs. Sometimes a small rate drop isn't worth it; sometimes a bigger one absolutely is. That's where running the actual numbers matters most. If you've been curious whether refinancing could work for your situation, I'd love to walk through what makes sense for you specifically. Let's talk through whether refinancing is worth exploring for your loan.
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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 Nicholas Bastianelli team any time and we'll walk you through your options. |
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