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Mortgage Market Update
Scott Orich
Scott Orich
Tuesday, October 20, 2026
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Should you refinance right now? |
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Hi there—this week I'm talking about one of the questions I hear most often from homeowners: whether a refinance makes sense for them.
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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 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 equity for a major project. But it also comes with closing costs and a new timeline, so it's worth doing the math first. The best time to refinance isn't always when rates move—it's when the math works for your specific goals and timeline. If you've been thinking about it, I'm happy to walk through the numbers with you and show you what a refinance could actually do for your household. Get in touch if you'd like me to run a quick refinance comparison 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 Scott Orich team any time and we'll walk you through your options. |
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