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Mortgage Market Update
Tony Tehfe
Tony Tehfe
Tuesday, October 20, 2026
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When rates drop, your options change |
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Hi there. I wanted to touch base about something I'm seeing a lot of questions about right now—what to do when mortgage rates improve.
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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
When rates drop, what should you do?
If you've been watching rates, you know they move. When rates fall, your monthly payment on a new loan could be lower—but that doesn't automatically mean refinancing is the right call. Some people use lower rates to shorten their loan term and pay off their home faster. Others keep the same term and pocket the monthly savings. A few decide to wait and see where rates go next. The best move depends on your goals, how long you plan to stay in your home, and what costs are involved. That's why it pays to run the actual numbers before you decide. If you'd like to walk through your options with me, I'm here to help.
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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 Tony Tehfe team any time and we'll walk you through your options. |
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