Mortgage Market Update

My Mortgage Company

Clover Dowdy

Friday, November 6, 2026

Does refinancing actually work for you?

Refinancing comes up a lot in conversations with homeowners. But it's worth asking the right questions before you move forward.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Refinance Reality

Should you refinance? Here's what to consider.

Refinancing isn't always the right move, even when rates look tempting. The real question is whether the savings over time outweigh the costs of taking out a new loan. Your loan officer and I can run the actual numbers for your situation — how long you plan to stay in the home, what your current loan terms are, and where rates stand today all matter.

Some borrowers break even in a few years and come out ahead. Others find it doesn't pencil out. There's no one-size-fits-all answer, which is why a conversation beats a guess. Reach out if you'd like to explore whether it makes sense for you.

Let's talk through the real numbers for your loan.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Clover Dowdy

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