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Mortgage Market Update
My Mortgage Company
Craig Barton
Tuesday, October 20, 2026
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Refinancing might be worth a second look |
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Some of you own your homes outright, others are early in their loans, and many are years into payments. Wherever you are, refinancing is worth understanding—even if you're not ready to do it today.
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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
Should you refinance? Here's what to consider
Refinancing isn't right for everyone, but it's worth understanding when it might make sense for you. The main reasons people refinance are to lower their monthly payment, shorten their loan term, switch from an adjustable to a fixed rate, or tap into home equity for a major expense. The catch is that refinancing involves closing costs and a new application process, so you'll want to run the numbers to see if the benefit outweighs those upfront expenses. A good rule of thumb: if you plan to stay in your home long enough to recoup those costs through savings, refinancing could be a smart move. Every situation is different, though, and I'd love to walk through your specific numbers with you to see what options exist. Let's talk about whether refinancing makes sense in your situation.
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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
Craig Barton
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