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Mortgage Market Update
My Mortgage Company
Scott Rinehart
Tuesday, October 20, 2026
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Should you refinance your mortgage? |
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Not every borrower should refinance. Here's what actually matters when you're thinking 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 (and when it doesn't)
Refinancing isn't a one-size-fits-all move. It can make real sense if rates have dropped significantly since you closed, if your credit has improved, or if you want to change your loan term. But it also comes with costs—appraisals, title work, and processing fees—so the math has to work in your favor. A lower rate doesn't automatically mean you should refinance; sometimes you'd need years to break even on those upfront costs. The best time to explore it is when you have questions, not pressure. If you're curious whether refinancing could benefit your situation, I'm happy to run the numbers with you. There's no obligation—just honest math. Reach out if you'd like to talk through whether refinancing fits your goals 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 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
Scott Rinehart
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