Tim Powers · October 20, 2026

Does refinancing actually pay off?

 

Tuesday, October 20, 2026

A Note From Tim Powers

🏡 Good News for Buyers & a Smart Move for Homeowners!

Happy Tuesday!

🏡 A Little Good News in Today's Housing Market!

If you've been keeping an eye on mortgage rates and home prices, there's some encouraging news worth sharing!

Mortgage rates moved slightly lower last week!

According to Freddie Mac, the national average 30-year fixed mortgage rate declined from 7.40% to 7.23%.

While rates remain elevated compared with recent years, it's a welcome change.

And here's something else interesting:

🏠 More Homes Available: National housing inventory increased 7.7% compared with last year.

💰 More Competitive Pricing: Median asking prices declined approximately 2.1% year over year.

🤝 More Negotiating Opportunities: With more homes available and fewer buyers competing, some sellers may be more willing to negotiate.

What does this mean for you?

If you've been considering purchasing a home, don't automatically assume you need to wait for interest rates to drop.

The combination of increased inventory, potential seller concessions, and creative financing options may create opportunities worth exploring.

Remember, the goal isn't necessarily to find the lowest interest rate. It's to find the right home with a mortgage payment that comfortably fits your budget.

And with access to more than 150 lenders, I can help explore financing options you may not have considered.

💙 Already Own a Home? You May Have More Options Than You Realize!

If you're already a homeowner, you're in a position that many people are working hard to achieve.

You have a place to call your own, the potential to build long-term equity, and possibly a mortgage rate significantly below today's market.

But here's something I encourage every homeowner to consider:

When was the last time you reviewed your mortgage and home equity?

Your financial situation today may look very different from when you originally purchased your home.

Perhaps you've accumulated equity, paid down debt, experienced changes in income, or have new financial goals.

That makes this a great time for a mortgage checkup!

💰 Could Your Home Equity Help You Accomplish Something Important?

Your home may be one of your largest financial assets, and understanding your equity options can be valuable.

Depending on your circumstances, that equity might help with:

🔨 Home Improvements: Finally remodeling that kitchen, upgrading your backyard, or making needed repairs.

💳 Debt Consolidation: Exploring whether paying off higher-interest debt could improve monthly cash flow.

🎓 Education: Helping cover college tuition or other educational expenses.

💍 Life's Big Moments: Planning a wedding or another major family event.

🏠 Future Opportunities: Exploring financing for another property or preparing for future financial goals.

Here's something many homeowners don't realize:

You may be able to access some of your equity without refinancing your existing first mortgage!

A home equity line of credit (HELOC) or second mortgage may provide options while allowing you to keep your current mortgage rate.

Of course, accessing equity isn't always the right decision. It adds debt secured by your home, and the costs and long-term impact should be carefully considered.

That's exactly why reviewing your options is so important.

⭐ My Offer to You: A FREE Mortgage & Home Equity Review!

I believe your mortgage deserves the same periodic attention you give your insurance, investments, and other important financial decisions.

During your complimentary review, we can look at:

✅ Your current mortgage rate and terms

✅ Your estimated home value and available equity

✅ Opportunities to improve monthly cash flow

✅ Whether a refinance, HELOC, or second mortgage makes financial sense

✅ Whether your existing mortgage is already the best option for your situation

And sometimes the best advice I can give you is to leave your mortgage exactly as it is!

My goal isn't to convince you to take out another loan. It's to make sure you're informed and making the most of your financial opportunities.

📞 Let's Take 10 Minutes and Review Your Options!

Whether you're thinking about buying, wondering what your home is worth, or simply curious whether your current mortgage could be working better for you, I'd love to help.

With over 20 years of mortgage experience and access to more than 150 lenders, I'm here to help you make informed decisions.

👉 Simply reply to this email with "FREE REVIEW" and I'll be happy to take a look!

Thinking about purchasing a home instead? Reply with "BUYING" and let's explore your options.

No pressure. No obligation. Just helpful information and personalized mortgage guidance.

Have a fantastic week!

Tim Powers
Branch Manager | Loan Originator
Powers Group Financial
Powered by Barrett Financial Group, LLC

📞 253-209-4247
NMLS #178079

Mortgage rates quoted are national averages as of October 22, 2026, for conventional loans with excellent credit and 20% down. Individual rates and terms vary. Housing statistics are national and may differ locally. Home equity financing involves costs and risks, including the possibility of foreclosure if payments are not made. All loans are subject to credit approval.

Mortgage Market Update

Does refinancing actually pay off?

Not every rate movement is a signal to refinance. Here's how to figure out if it's the right call for you.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

Rate trend

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.

Check My Rate →

Refinance Strategy

When refinancing makes sense (and when it doesn't)

Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit outweighs your costs and how long you plan to stay in your home. If you're thinking about it, we look at your current loan details, run the numbers on a new one, and show you the actual break-even point. Sometimes it's worth it in a few months. Sometimes it's not worth it at all. The only way to know is to run the math specific to your situation—not guesswork, not what worked for your neighbor. I'm happy to walk through a quick what-if scenario with you, no obligation.

Let's talk through whether a refi makes sense for you right now.

Tip of the Week

Your loan officer can run a credit simulator to show exactly which actions will move your score the most.

Tips for Homeowners

Year-End Tax & Mortgage Planning

1.

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).

2.

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.

3.

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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Tim Powers team any time and we'll walk you through your options.

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Tim Powers

Tim Powers

Tim Powers

tpowers@barrettfinancial.com

+1 253-209-4247

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16427 N Scottsdale Rd Ste 410, Scottsdale, AZ 85254

+1 253-209-4247

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