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Mortgage Market Update
Che Frey
Che Frey
Tuesday, October 20, 2026
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Should you refinance right now? |
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Rates move all the time, and so do borrowers' questions about what to do. This week I'm breaking down one of the most common ones.
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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 a rate drop actually makes sense
Not every rate movement calls for a refinance. The real question is whether the long-term benefit outweighs the cost of refinancing—mainly the closing costs you'd pay upfront. If rates drop significantly and you plan to stay in your home long enough to recoup those costs through lower monthly payments, it might be worth exploring. But if you're thinking of selling in a few years, or the rate improvement is small, refinancing could work against you. The math matters more than the headlines. I'd be happy to walk through whether it makes sense for your situation. Let's talk through the numbers on your loan.
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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 Che Frey team any time and we'll walk you through your options. |
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