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Mortgage Market Update
Jamie Thibodeau
Jamie Thibodeau
Tuesday, October 20, 2026
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Should you refinance your mortgage? |
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I get asked about refinancing all the time. Here's what actually matters when you're thinking about doing it.
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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
A lot of people ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into home equity for a major expense. But it also comes with closing costs and a new loan timeline, so it's not right for everyone. The key is comparing what you'd pay to refinance against what you'd actually save over time. If you've been in your home for a while, your credit has improved, or your financial picture has changed since you first borrowed, it might be worth exploring. I'd be happy to run the numbers and show you whether a refinance could work in your favor. Let's talk through your options—reach out and we can review what 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 Jamie Thibodeau team any time and we'll walk you through your options. |
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