Mortgage Market Update

Ryan Steer

Tuesday, October 20, 2026

Should you refinance? Let's look at your numbers.

Every week I talk to homeowners who wonder if they should refinance. The answer is different for everyone—and it starts with your personal situation. Here's what I'm thinking about this week.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%

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.

Refinancing

When does it make sense to refinance?

Refinancing isn't always the right move—it depends on your situation, how long you plan to stay in your home, and what's happening with rates. Sometimes a refi makes you money. Sometimes it just costs you. The key is understanding your own numbers: how much you owe, what you're paying now, what you might pay after, and how many years you're staying put. If rates have moved enough and you're planning to be there long enough, refinancing can lower your monthly payment or help you pay off your loan faster. If you're thinking about it, I'd love to run the math with you—no obligation, just clarity.

Give me a call or send a message and we can look at whether a refinance makes sense for your home.

Tip of the Week

Your loan officer can run a credit simulator to show exactly which actions will move your score the most.

Tips for Homeowners

Year-End Tax & Mortgage Planning

1.	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).

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Ryan Steer team any time and we'll walk you through your options.

Your Mortgage Advisor

Ryan Steer

ryan.steer@onerealmortgage.com

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