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Mortgage Market Update
Michael Radcliffe
The Rad CRM
Friday, November 6, 2026
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Should you refinance? Let's do the math. |
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Refinancing can be a smart move—or a waste of money. Here's how to tell the difference.
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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 Readiness
When does refinancing actually make sense?
Refinancing isn't right for everyone—and it's not always right for you even when rates drop. The real question is whether the cost of refinancing (closing costs, appraisal, processing) pays for itself through your monthly savings before you sell or move. Some people break even in a few years; others need much longer. Your loan balance, how long you plan to stay, and what the rate environment looks like all factor in. I've seen people save thousands and I've seen others spend money they didn't need to. The best move is to run the actual numbers for your specific situation rather than guess. If you've been wondering whether now is your moment, let's talk through it together. Reach out if you'd like me to walk through what refinancing would actually look like 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 Michael Radcliffe team any time and we'll walk you through your options. |
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