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Mortgage Market Update
Rad Mortgage
Rad Mortgage - Personal Account
Saturday, October 24, 2026
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Should you refinance? Here's what to consider |
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A Note From Rad Mortgage
This week we were able to help a family move into their first home and got them cleared to close in under 10 days! We are grateful for any referrals and would love to provide this experience for any of your family and friends!
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Not all refinances are created equal. Some save you real money, and some don't—here's how to tell the difference.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The math depends on how long you plan to stay in your home, how much you'd save on your monthly payment, and what closing costs would run you. If you're planning to move or sell within a few years, refinancing might not pencil out. But if you're staying put and your situation has changed—your credit has improved, rates have shifted, or you want to change your loan term—it's worth a conversation. The best way to know if it makes sense for you is to run the numbers with someone who understands your full picture. That's where I come in. I can walk through the scenario, show you the real costs and savings, and help you decide if it's worth doing.
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Tip of the Week
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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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 Rad Mortgage team any time and we'll walk you through your options. |
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4802720845 | radcliffemortgageteam.com
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