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Mortgage Market Update
Dusty Feller
Dusty Feller
Friday, November 6, 2026
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Should you refinance your mortgage? |
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Sometimes the smartest money move is doing nothing. Other times, it's looking at what you have and asking whether something better exists for you now.
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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 101
Should you refinance? Here's how to tell.
Refinancing means taking out a new loan to pay off your existing mortgage. People do it for different reasons: to lower their monthly payment, shorten their loan term, switch from an adjustable rate to a fixed one, or tap into their home's equity. The catch is that refinancing comes with its own costs and takes time to close, so it only makes sense if the benefit outweighs those expenses. That's why it's worth running the numbers with someone who can show you the real impact on your specific situation—not just whether rates have moved, but whether a new loan actually works for your goals and timeline. If you've been wondering whether refinancing could help you, I'd love to walk through your options with no pressure. Let's talk through whether refinancing makes sense for your home.
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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 Dusty Feller team any time and we'll walk you through your options. |
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