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Mortgage Market Update
My Mortgage Company
Lou Borrego's Account
Tuesday, October 20, 2026
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Refinancing: is it worth it for you? |
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Hi there—I wanted to share some straight talk this week about refinancing and when it actually makes sense to move forward.
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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
Refinancing isn't always the right move, even when rates shift. The real question is whether the monthly savings and long-term benefit are worth the cost and time involved in getting a new loan. If you've built equity, improved your credit, or your situation has changed since you closed, refinancing might be worth exploring. But it only pencils out if the numbers genuinely work for your timeline and goals. I see borrowers sometimes chase small savings that disappear once closing costs are factored in—so it pays to do the math carefully. If you're wondering whether refinancing could help you, I'd be happy to walk through what it would look like for your specific situation. Reach out if you'd like a no-pressure conversation about whether refinancing fits your plan.
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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
Lou Borrego's Account
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