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Mortgage Market Update
Parry Ward
Parry Ward
Tuesday, October 20, 2026
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Thinking about refinancing? Here's the real math |
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Hi there. This week I want to walk you through one of the most misunderstood decisions homeowners face—when (and when not) to refinance.
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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 does refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The real question is whether the money you save on your monthly payment outweighs what you'll pay in closing costs. Sometimes a lower rate still means you break even months or years down the road, which matters if you're planning to move or pay off your home sooner. Other times, the math works out great from day one. The only way to know for sure is to run the numbers on your specific situation. I can pull together a real comparison for you that shows exactly what refinancing would cost versus what you'd save—no guessing, no sales pitch, just the facts. Let's talk through whether it makes sense for your home.
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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 Parry Ward team any time and we'll walk you through your options. |
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