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Mortgage Market Update
Chase Giles
Chase Giles
Tuesday, October 20, 2026
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Should you refinance? It depends on this |
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Every week, I get asked whether now is the time to refinance. The honest answer is: it depends on your specific circumstances.
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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 shift. The real question is whether the benefit of a lower payment or shorter loan term outweighs the time and costs involved in the process. Some borrowers see immediate value; others need to stay put for several years to break even. It depends on your timeline, how long you plan to stay in the home, and what your current loan looks like. I can help you run the actual numbers—not guesses—so you know whether it's worth exploring or better to hold tight where you are. If you're wondering whether refinancing fits your situation, let's talk through it together.
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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 Chase Giles team any time and we'll walk you through your options. |
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