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Mortgage Market Update
My Mortgage Company
Nolan Kitkoski
Friday, November 6, 2026
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Does refinancing actually pencil out for you? |
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Refinancing can be tempting when the market moves, but the best rate isn't always the best decision. Here's what to consider.
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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 Reality
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates are better—it's whether the math works for your situation. Your loan balance, how long you plan to stay in your home, and the costs to refinance all play a role in whether you'll actually come out ahead. Some people benefit immediately; others need to stay in the loan longer to break even on closing costs. That's why it's worth running the numbers before you decide. If you're curious whether refinancing could make sense for you, I'm happy to walk through the specifics and show you what the timeline might look like. Reach out and we can explore whether refinancing aligns with your goals.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Nolan Kitkoski
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