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Mortgage Market Update
Mindy Connor
Mindy Connor
Tuesday, October 20, 2026
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Should you refinance your mortgage? |
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Every homeowner's situation is different. This week, let's look at how to tell whether refinancing makes sense for you.
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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 one-size-fits-all, and it's not always the right move. The main reason people refinance is to lower their monthly payment or shorten their loan term—but the real benefit depends on your situation. If you've built equity, improved your credit score, or rates have moved favorably, refinancing might be worth exploring. On the flip side, if you're planning to move in a few years, the costs to refinance may not pay for themselves. The key is running the actual math on your specific loan and timeline. I can help you figure out whether refinancing pencils out for you. Let's talk through your options—reach out anytime to see if refinancing could work for your goals.
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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 Mindy Connor team any time and we'll walk you through your options. |
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