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Mortgage Market Update
My Mortgage Company
Affluent Mortgage LLC
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Hi there. As rates and your situation change, the mortgage that made sense two years ago might not be the best fit today.
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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
When does it make sense to refinance?
Refinancing isn't a one-size-fits-all move. Some borrowers benefit from it; others find the timing or their situation just doesn't line up. The main reasons people refinance are to lower their monthly payment, shorten their loan term, tap into home equity, or switch from an adjustable to a fixed rate. But there are costs involved, and it only makes financial sense if the benefit outweighs those costs over the time you plan to stay in your home. If you've built equity, your credit has improved, or rates have shifted in your favor since you first borrowed, it might be worth exploring. The best way to know is to run the real numbers with someone who can see your whole picture. I'm happy to walk through whether refinancing could work for you. Let's talk through your refinancing options — no obligation to move forward.
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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
Affluent Mortgage LLC
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