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Mortgage Market Update
My Mortgage Company
Jason Inmon
Friday, November 6, 2026
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Refinancing isn't right for everyone |
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Rates move. When they do, refinancing comes up. But moving numbers on paper isn't the same as moving your money around—and not every rate shift triggers a smart refinance.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain over time outweighs the cost of refinancing itself. Some borrowers save money within months; others need years to break even. It depends on your loan balance, how long you plan to stay in your home, your credit profile, and the rate environment. The best time to explore it is before you need it—when you can compare options calmly and run the actual numbers. If you've been wondering whether now could be your moment, I can walk through the math with you and show you what refinancing would really look like for your specific situation. Let's talk about whether refinancing makes sense for you right now.
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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
Jason Inmon
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