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Mortgage Market Update
My Mortgage Company
Grisel Maldonado
Tuesday, October 20, 2026
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Should you refinance right now? |
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One of the questions I hear most often is whether now is the right time to refinance. The answer depends on a lot more than just rates moving up or down.
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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 refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the benefits you'd gain—a lower payment, shorter loan term, or access to cash—outweigh the costs and time it takes to close. Sometimes a small rate improvement doesn't pencil out. Other times, tapping your home's equity or switching from an adjustable to a fixed rate makes real financial sense. The key is looking at your specific numbers and timeline, not just chasing the headline rate. I'd be happy to walk through whether refinancing could work for you right now, or if it's better to hold tight. Let's talk through your situation and see if refinancing moves the needle 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 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
Grisel Maldonado
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