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Mortgage Market Update
My Mortgage Company
Robert Kelly
Tuesday, October 20, 2026
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Should you refinance? Here's how to decide. |
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Lots of homeowners ask me the same question: 'With rates moving, should I refinance?' The honest answer depends on your situation—not just the rates themselves.
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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 Strategy
When a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs the cost of refinancing itself. If you're planning to stay in your home for a while, a refi can lower your monthly payment or help you pay off your loan faster. But if you're thinking of moving in a few years, the savings might disappear before you break even on closing costs. The best way to know is to do the math on your specific situation—how long you'll stay, what your new payment would be, and what you'd pay to make the change. That's exactly what I help clients figure out every week. Let's talk through whether refinancing makes sense for your home and your timeline.
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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
Robert Kelly
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