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Mortgage Market Update
My Mortgage Company
Kenneth Harter
Tuesday, October 20, 2026
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Should you refinance right now? |
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One of the most common questions I get is whether now is the right time to refinance. The answer depends on your specific circumstances—let me explain.
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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 does it actually make sense to refinance?
Refinancing isn't always the right move, even when rates drop. The real question is whether the benefit you'd gain over time outweighs the cost of refinancing itself. This is different for everyone—it depends on how long you plan to stay in your home, your current loan terms, and what rates are available to you today. Some people break even in a few months. Others need several years to come out ahead. That's why it's worth running the actual numbers with someone who knows your full situation, not just making a guess based on headlines. If you're wondering whether refinancing could work for you, I'm happy to walk through the math.
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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
Kenneth Harter
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