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Mortgage Market Update
Justin Leach
JL Lending Team
Friday, November 6, 2026
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Should you refinance right now? |
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Refinancing gets a lot of attention, but it's not right for everyone. Here's how to figure out if it makes sense for you.
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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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Refinancing Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs the cost and disruption of switching loans. For some borrowers, refinancing saves thousands over time. For others, staying put in their current mortgage is the smarter choice. It depends on how long you plan to stay in your home, your current loan terms, and what's available to you now. A quick conversation can help you see the actual math for your situation—no pressure, just clarity. If you're curious whether refinancing could work in your favor, I'd be happy to run some numbers with 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 Justin Leach team any time and we'll walk you through your options. |
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