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Mortgage Market Update
Omar Navarro
Omar Navarro
Friday, November 6, 2026
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Refinancing might make sense—here's why |
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Not every refinance opportunity is worth taking. I want to help you figure out if this one is right for your goals.
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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
Should you refinance? Here's how to tell.
Refinancing isn't always the right move—even when rates look good. The real question is whether the savings over time outweigh the costs to close a new loan. Some borrowers break even in a few years and come out ahead; others never do, depending on how long they plan to stay in the home and what their current loan looks like. If you've been in your house a while, you may have built equity that could work in your favor. The best way to know if refinancing makes sense for your situation is to run the actual numbers with someone who knows your file. I can walk you through it without any pressure—just honest math. Let's 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 Omar Navarro team any time and we'll walk you through your options. |
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