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Mortgage Market Update
My Mortgage Company
Green River Capital
Friday, November 6, 2026
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Does refinancing make sense for your home? |
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Some weeks I get questions about refinancing from folks who wonder if the timing is right. Let me break down how to think about it.
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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—replacing your current mortgage with a new one—can be useful in certain situations. It might help if you're looking to lower your monthly payment, shorten your loan term, or tap into home equity for a major expense. But refinancing isn't free; there are closing costs involved, and the process takes time. The key is understanding whether the benefits outweigh those costs for your specific situation. The math works differently for everyone depending on how long you plan to stay in your home, what your current loan looks like, and what's available to you now. If you've been wondering whether it's worth exploring, I'd be happy to walk through your numbers and show you what's realistic. Reach out anytime if you'd like to talk through whether refinancing could work for you.
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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
Green River Capital
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