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Mortgage Market Update
Bowen Du
Bowen Du
Tuesday, October 20, 2026
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Should you refinance your mortgage? |
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One of the most common questions I get is whether now is the right time to refinance. The answer isn't one-size-fits-all—it depends on your goals, timeline, and the math behind your specific loan.
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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 refinancing makes sense (and when it doesn't)
A lot of homeowners ask me whether they should refinance, and the answer really depends on your personal situation. Refinancing can lower your monthly payment, shorten your loan term, or switch from an adjustable to a fixed rate—but it comes with costs and takes time to close. The math only works if you plan to stay in your home long enough to recoup those costs through your savings. If you're thinking about moving in a few years, refinancing might not pencil out. If you're settled and want to build equity faster or lock in stability, it could be worth exploring. The best move is to compare your current loan against what you'd qualify for today, factor in your timeline, and see if the numbers align with your goals. Let's talk through whether refinancing makes sense for you 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 Bowen Du team any time and we'll walk you through your options. |
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