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Mortgage Market Update
Samuel Ham
Samuel Ham
Tuesday, October 20, 2026
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Should you refinance your mortgage? |
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A lot of homeowners wonder if they should refinance at some point. Here's how to know if it's worth exploring.
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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 Strategy
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all — it works great for some borrowers and doesn't make sense for others. The main reason people refinance is to lower their monthly payment or shorten their loan term, but there are other reasons too: pulling out equity for a major expense, switching from an adjustable rate to a fixed one, or removing mortgage insurance once you've built enough equity. The key is looking at your whole picture — how long you plan to stay in the home, what you'd pay in closing costs, and what the actual payment difference would be. I'm happy to run the numbers and show you whether a refinance could work in your favor right now. Let's talk through whether refinancing makes sense for you.
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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 Samuel Ham team any time and we'll walk you through your options. |
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