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Mortgage Market Update
My Mortgage Company
Brian Klotz
Friday, November 6, 2026
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Should you refinance your mortgage? |
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Refinancing comes up a lot in conversations, but it's not one-size-fits-all. Here's how to think about it.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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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.
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Refinancing Readiness
When does refinancing actually make sense?
Refinancing isn't a yes-or-no decision—it depends on your specific situation. Some borrowers benefit from lower rates or shorter loan terms. Others find the timing or costs don't align with their goals. The key is understanding what you're trying to accomplish: reduce your monthly payment, pay off your home faster, tap into equity for a project, or switch loan types. I can walk you through the math on your particular loan to show whether a refinance pencils out for you right now. It's a conversation worth having if you haven't looked at your options in a while. If you're curious whether refinancing could work for your situation, let's talk it through.
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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
Brian Klotz
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