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Mortgage Market Update
My Mortgage Company
Ross D. Tammen
Tuesday, October 20, 2026
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Should you refinance? Here's how to tell. |
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Not every rate move calls for a refinance. This week I'm breaking down what actually makes the decision worth your time and money.
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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 dip. The real question isn't whether rates have dropped—it's whether the long-term benefit outweighs what you'd pay to make the switch. Some people refinance to lower their rate, others to tap equity or shorten their loan term. Each path has a different math behind it. The key is understanding your own situation: how long you plan to stay, what you owe versus what your home is worth, and whether the numbers actually work in your favor. I'm happy to walk through your specific scenario and show you whether refinancing could genuinely improve your financial picture, or whether staying put makes more sense right now. Let's talk about what refinancing could mean for you—reach out anytime.
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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
Ross D. Tammen
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