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Mortgage Market Update
Alejandro Uribe
Alejandro Uribe
Tuesday, October 20, 2026
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Should you refinance your mortgage? |
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I get questions every week about refinancing—whether it's the right move, and when. Let's break down the basics so you can make an informed decision.
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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 it make sense to refinance?
A lot of homeowners wonder if refinancing is worth considering, but the answer really depends on your personal situation. If rates have moved favorably since you took out your loan, or if your credit has improved, you might have options worth exploring. Refinancing isn't free—there are closing costs involved—so it only makes sense if the long-term benefit outweighs what you'll pay upfront. Maybe you want to shorten your loan term, lower your payment, or tap into home equity for a major project. The key is understanding your own goals first, then running the numbers to see if the math works. I'm happy to walk you through whether refinancing makes sense for you. Reach out if you'd like to talk through whether refinancing fits your situation right now.
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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 Alejandro Uribe team any time and we'll walk you through your options. |
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