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Mortgage Market Update
My Mortgage Company
MortgageCon
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Life changes, interest rates move, and sometimes that adds up to a refinancing opportunity. Other times, it doesn't—and that's okay too.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain covers the cost of closing the loan. That means looking at your timeline—how long you plan to stay in your home—and comparing what you'd save month-to-month against what you'd pay upfront. Sometimes the math works in your favor quickly. Other times, it takes years to break even. I help borrowers run these numbers so they can decide based on facts, not just 'rates are lower.' If you're wondering whether now's the moment for you, I'm here to walk through the details without pressure. Reach out if you'd like me to show you how the numbers would look 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
MortgageCon
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