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Mortgage Market Update
sherry kerr
Sherry Kerr
Friday, November 6, 2026
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Should you refinance right now? |
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Hi there. I get asked about refinancing often, and for good reason—when rates move, it's natural to wonder if your loan is still the best fit.
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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 does refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The real question is whether the long-term savings justify the upfront costs and time investment. Sometimes a small rate improvement doesn't pencil out; other times it's a smart financial move that pays for itself over time. It depends on your specific loan, how long you plan to stay in the home, and where rates actually are right now. There's no one-size-fits-all answer, which is why it helps to talk through the numbers with someone who understands your situation. If you've been thinking about it, I can walk you through the actual math so you know whether it makes sense for you. Let's look at your options—reach out and we can run the numbers together.
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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 sherry kerr team any time and we'll walk you through your options. |
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