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Mortgage Market Update
Scott Lepper
Scott Lepper
Tuesday, October 20, 2026
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When a refinance actually pencils out |
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Some weeks I get calls from homeowners asking if they should refinance. The honest answer is always: it depends.
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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 long-term benefit outweighs what you'll pay upfront. Some people refinance to lower their monthly payment or shorten their loan term. Others tap equity for a major expense. But if you're only a few years into your loan, or if rates haven't moved enough to offset closing costs, you might be better off staying put. The best way to know is to run the actual numbers for your specific situation—and that's where I come in. If you've been wondering whether a refinance could work for you, let's talk through it together. Reach out and we can review whether refinancing makes sense 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 Scott Lepper team any time and we'll walk you through your options. |
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