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Mortgage Market Update
My Mortgage Company
Cole Stephens
Tuesday, October 20, 2026
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Should you refinance right now? |
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There's a lot of noise about refinancing, but the decision doesn't have to be complicated. Here's how I help clients figure out if it's right for them.
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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 101
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs what you'll pay to switch loans. I help borrowers think through the math: How long do you plan to stay in your home? What are your new costs versus your current ones? Sometimes refinancing saves money over time; sometimes staying put does. A solid rule of thumb is looking at your break-even point—the month when monthly savings add up to your closing costs. If you're not planning to stay that long, refinancing may not pencil out. But if you're in your home for the long haul and rates have moved in your favor, it's worth a real conversation. Let's look at your situation and see what makes sense for your goals.
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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
Cole Stephens
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