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Mortgage Market Update
Tosh Dickenson
Tosh Dickenson
Tuesday, October 20, 2026
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Does it make sense to refinance right now? |
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I get questions often about whether refinancing is a good idea. Let me break down how to think about it.
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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 makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or tap into home equity for a specific need. But each scenario has different tradeoffs—you'll want to think through closing costs, how long you plan to stay in the home, and what you're trying to accomplish. Some borrowers find it makes sense; others realize their current loan is already working well for them. The best way to know is to run the actual numbers for your specific situation and goals. If you're curious whether refinancing could help, I'm happy to walk through the details with you.
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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 Tosh Dickenson team any time and we'll walk you through your options. |
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