Does Refinancing Make Sense? | Free Guidance for NYC Homeowners

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Mortgage Weather

A quick read on where mortgage rates have been recently

Updated: October 6, 2026 · Source: Freddie Mac PMMS

❄️

Cold

30-Year Fixed Rate

7.28%

Freddie Mac PMMS, week of Oct 1, 2026

vs. 3 months ago

↑ Up ~0.85 pts · Rate was ~6.43% in Jul 2026

vs. 1 year ago

↑ Up ~0.94 pts · Rate was 6.34% in Oct 2025

What we're seeing

The Federal Reserve hiked its benchmark rate by 25 basis points on September 16 — the first increase since July 2023 — pushing the 30-year fixed above 7% for the first time since January 2025. Rates have continued climbing to 7.28% as of October 1.
Surging oil prices, persistent inflation, and a global bond market selloff pushed the 10-year Treasury yield above 5% in late September. Mortgage rates followed sharply higher, rising nearly a full point in under three months.
Conditions are meaningfully worse than both three months ago and a year ago. This is the toughest rate environment since early 2025, and another Fed hike before year-end remains a possibility.

Latest market headlines

HousingWire

Mortgage rates reach 7.28% as Fed hike ripples through the market

The 30-year fixed rate continued climbing after the Fed's September rate increase, reaching its highest level since early 2025. HousingWire reports rates have risen 22 basis points in two weeks alone, with the 10-year Treasury yield staying stubbornly elevated.

housingwire.com ↗

HousingWire

Another Fed rate hike odds climb as mortgage applications weaken

Market expectations for a second rate hike have grown sharply, with CME FedWatch showing a 77.5% probability of an October increase. Mortgage applications have declined for the fourth time in five weeks as borrowers pull back amid the rate spike.

housingwire.com ↗

Mortgage News Daily

30-year fixed crosses 7% for first time since January 2025

Mortgage News Daily reported daily rates hitting 7.07% on September 10, days before the Fed's rate hike pushed them even higher. Inflationary concerns and a global government bond selloff drove the 10-year Treasury yield to its highest level in nearly two decades.

mortgagenewsdaily.com ↗

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Big Banks Don’t Tell You When Not to Refinance. We Do.

Most homeowners don’t refinance because they’re confused — not because they shouldn’t. Rates change. Programs change. Government policy changes.

Most lenders only call when it benefits them, not you. We built Refilytics to help NYC homeowners understand the market without being pushed into a bad deal.

✅ Understand when refinancing actually saves money

✅ Navigate FHA, VA, and conventional options

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Not sure if refinancing makes sense?

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Get clear answers — without pressure, sales calls, or big-bank nonsense. Built for NYC homeowners.

Big Banks Don’t Tell You When Not to Refinance. We Do.

How It Works

We monitor

Government-backed programs and market changes most homeowners miss.

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You decide

Refinance now, wait, or do nothing. If it doesn't make sense, we'll tell you.