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Mortgage Market Update
Derek Mollin
Derek Mollin
Tuesday, October 20, 2026
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When refinancing might not be the right move |
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Not every rate move means it's time to 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 Borrowing
When a lower rate isn't worth the cost
Not every rate drop deserves a refinance. When rates move, the math matters—and sometimes the closing costs and time required to break even don't align with your plans. If you're thinking about refinancing, it's worth running the numbers: how long do you plan to stay in your home, what will closing costs be, and how much lower does the rate actually need to go to make sense? I help clients answer these questions honestly, without the sales pitch. Sometimes the answer is yes, sometimes it's not yet, and sometimes it's no—and that's okay. Let's talk through 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 Derek Mollin team any time and we'll walk you through your options. |
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