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Mortgage Market Update
My Mortgage Company
Kenneth Francis
Tuesday, October 20, 2026
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The cost of waiting for better rates |
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Every week I talk to homeowners who are sitting on an opportunity they don't realize is there. This week, let's talk about one of the biggest mistakes I see people make when thinking about refinancing.
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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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Refinance Strategy
When waiting on rates actually costs you money
A lot of people hold off on refinancing because they're waiting for rates to drop further. But here's what I see happen: you can miss real savings while you're watching and waiting. Sometimes the math works in your favor right now, even if rates aren't at their absolute lowest. The longer you wait, the longer you're paying your current rate—and that adds up faster than most people think. If you've built equity in your home or your situation has changed, it's worth a conversation. I can run the numbers and show you what refinancing would actually look like for you, no guesswork involved. Reach out and let's look at whether a refinance makes sense for your situation.
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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
Kenneth Francis
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