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Mortgage Market Update
My Mortgage Company
Ashley Turner - For Deletion
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Refinancing gets brought up a lot, but it's not the right move for everyone—and sometimes people skip it when they shouldn't. This week I want to break down what actually matters.
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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
When it makes sense to refinance your mortgage
Refinancing isn't just about chasing lower rates—though that's one reason people do it. You might refinance to shorten your loan term, lock in a fixed rate if you're on an ARM, tap into home equity, or simply get out of a loan that isn't working for your situation anymore. The catch is that refinancing has costs, so it only pencils out if the benefit outweighs what you'll pay upfront. That math is different for everyone depending on how long you plan to stay in the home and what you're trying to accomplish. The good news is it's worth having a conversation about. If you've been wondering whether a refi makes sense for you, I'd love to walk through the numbers and see what's actually on the table. Reach out and let's talk through whether refinancing could work 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
Ashley Turner - For Deletion
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