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Mortgage Market Update
Jessica Levine
Jessica Levine
Friday, November 6, 2026
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Does it make sense to refinance right now? |
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Not every rate move calls for action. This week, I want to help you figure out whether refinancing is worth considering.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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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Refinance Reality
When a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. I talk to homeowners every week who wonder if they should refinance, and the honest answer depends on a few things: how long you plan to stay in your home, what your current rate and loan balance are, and whether the math actually works in your favor after closing costs. Sometimes waiting a few months makes more sense. Sometimes locking in now does. The key is running the real numbers specific to your situation—not chasing every rate dip you see. If you're curious whether a refi could benefit you, I'm happy to walk through your options and show you the actual timeline on when you'd break even. Let's talk through whether refinancing makes sense for your situation.
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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 Jessica Levine team any time and we'll walk you through your options. |
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