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Mortgage Market Update
My Mortgage Company
Elias Espejo
Tuesday, October 20, 2026
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Does refinancing make sense right now? |
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I hear from borrowers often about whether they should refinance. The answer isn't always obvious, so I wanted to break down what actually matters when making that decision.
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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 actually makes sense
Refinancing isn't always the right move—even when rates drop or your home gains value. The real question is whether the benefit outweighs the cost and time involved. Some folks refinance to lower their monthly payment, others to shorten their loan term, and some to tap equity for a major expense. But each scenario plays out differently depending on how long you plan to stay in your home and what you're trying to achieve. The best way to know if it's worth exploring is to have a straightforward conversation about your specific situation—no pressure, no numbers on a screen yet. I'm here to walk through what makes sense for you. Reach out if you'd like to talk through whether refinancing could work for your 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Elias Espejo
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