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Mortgage Market Update
Keila Nelson
Keila Nelson
Tuesday, October 20, 2026
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Does it make sense for you to refinance? |
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A lot of people assume lower rates always mean refinance. But the real answer is more nuanced than that.
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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 actually makes sense
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefit you'd gain over time outweighs the costs of taking out a new loan. Some borrowers see a genuine advantage in a lower payment or shorter loan term. Others find that closing costs make it a wash, or that they won't stay in the home long enough to break even. That's why it helps to do the math before you apply. I can walk through your specific situation—your current loan, how long you plan to stay, what your new payment might look like—so you can make a decision based on facts, not just rate movements. If refinancing could actually help you, I want you to know. If it doesn't make sense, I'll tell you that too.
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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 Keila Nelson team any time and we'll walk you through your options. |
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