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Tuesday, October 20, 2026 |
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Mortgage Market Update
Does refinancing make sense for you?
A lot of people assume that lower rates automatically mean they should refinance. But there's more to it than that, and I want to walk you through how to think about it.
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National Mortgage Rates · October 16, 2026
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Conventional 30-Year
7.28% 30-day Range: 7.01%–7.46%
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Conventional 15-Year
6.69% 30-day Range: 6.26%–6.81%
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FHA 30-Year
7.13% 30-day Range: 6.76%–7.21%
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VA 30-Year
6.93% 30-day Range: 6.69%–7.13%
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates dropped—it's whether the math works for your situation. You'll want to think about how long you plan to stay in your home, what your current loan terms are, and whether the benefit outweighs the cost of refinancing. Sometimes the answer is yes. Sometimes you're better off staying put and building equity on the loan you have. I've seen borrowers save real money by refinancing, and I've also seen people avoid a mistake by deciding not to. The difference is doing the math for your specific circumstances, not just chasing a lower rate. That's where a good conversation helps.
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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 James J Tyrrell III team any time and we'll walk you through your options.
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(954) 695-5801
Coast2Coast Mortgage LLC · Unsubscribe
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