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Mortgage Market Update
My Mortgage Company
Rafael Martinez
Tuesday, October 20, 2026
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Refinance or stay put? How to decide |
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Hi there—this week I want to tackle a question I hear a lot: should I refinance? The answer depends on a few things beyond just the rate.
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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 makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefit you'd gain over time is worth the cost of refinancing itself. Sometimes it is—maybe you're lowering your rate enough that you'll recoup those costs within a few years, or you're shortening your loan term to build equity faster. Other times, if you're planning to move soon or the rate improvement is small, it might not pencil out. The best approach is to run the actual numbers for your specific situation: your current loan, your timeline, and what today's options look like. I can help you figure out whether a refi is worth exploring right now. Let's talk through whether refinancing makes sense 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
Rafael Martinez
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