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Mortgage Market Update
My Mortgage Company
Matt & Eliesha Cavanaugh
Tuesday, October 20, 2026
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When refinancing actually pays off |
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Sometimes lower rates look tempting—but not every rate drop is worth the refinance. Here's how to know the difference.
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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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Smart Refinancing
When a rate drop is worth the paperwork
Not every rate movement means you should refinance. The real question is whether your new payment and total interest savings justify closing costs and a new loan term. Sometimes they do—sometimes they don't. What matters most is doing the math on your specific situation: how long you plan to stay in the home, what your current rate and loan balance are, and what closing costs would run. I can help you work through those numbers so you're making a decision based on facts, not just the hope that rates fell. It only takes a quick conversation to know whether refinancing actually makes sense for you. Let's run the numbers together and see if refinancing pencils out 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
Matt & Eliesha Cavanaugh
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