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Mortgage Market Update
Hardeep Rai
Hardeep Rai
Friday, November 6, 2026
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Thinking about refinancing? Start here |
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A lot of homeowners put off that refinance conversation. This week, I want to explain why now might be the time to have 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 Readiness
When to stop waiting and talk to a lender
I talk to homeowners who've been thinking about refinancing for months—sometimes longer. They're waiting for the "perfect" rate, or they're not sure if it makes sense, or they just haven't gotten around to it. Here's what I'd encourage: a conversation costs nothing, and the information you get is worth everything. When you understand your actual options—what your new payment might look like, whether you can shorten your loan term, how long a refinance takes to break even—you can make a real decision instead of a guess. Some people discover refinancing doesn't make sense for them right now, and that's valuable. Others find it does, and they're glad they checked. Either way, you stop wondering. Let's talk through your situation and see what your options actually are.
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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 Hardeep Rai team any time and we'll walk you through your options. |
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