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Mortgage Market Update
Hema Konki
Hema Konki
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to talk about refinancing and how to figure out if it's the right move for you.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
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 how to know.
Refinancing isn't right for everyone, but it can make sense if your situation has changed. Maybe rates have moved in your favor, your credit has improved, or you want to tap into your home's equity. The key is understanding what you'd gain against what you'd pay to make the switch. I help borrowers run the real numbers—not guesses—so you can decide with confidence. If you've been wondering whether a refinance could work for you, I'd be happy to walk through your options without any pressure. Reach out if you'd like to explore whether refinancing makes sense for your situation.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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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 Hema Konki team any time and we'll walk you through your options. |
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