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Mortgage Market Update
Ken Graczak
Ken Graczak
Wednesday, October 21, 2026
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Does refinancing make sense right now? |
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A Note From Ken Graczak
Fall Is Coming, We're Here If You Need Us
Most families are back into the school year routine by now, backpacks, schedules, the whole thing. Fall's right around the corner too, and it's usually when people start thinking more seriously about buying, refinancing, or just figuring out what makes sense for their situation.
If you're weighing a move, wondering about your rate, or just want a straight answer before you decide anything, reach out. No pressure, just good advice whenever you need it.
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Rates change constantly, and when they do, refinancing often comes to mind. But a rate move alone doesn't mean it's time to act.
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National Mortgage Rates · October 20, 2026
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Conventional 30-Year
7.08%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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 makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have moved — it's whether the change is big enough to offset what you'll pay to refinance and how long you plan to stay in your home. Some borrowers see a modest rate improvement and jump at it, only to realize the closing costs take years to recoup. Other times, a refinance is genuinely worth it, especially if you're also shortening your loan term or tapping equity for a smart goal. The math is different for everyone. That's why it's worth having a conversation about your specific situation rather than making the call based on headlines alone. I can run the real numbers for you and show what refinancing would actually cost versus what you'd save.
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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 Ken Graczak team any time and we'll walk you through your options. |
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8120 Penn Ave S. Suite 100C, Bloomington, MN 55431
612-324-8454 | https://kengraczak.com
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