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Mortgage Market Update
My Mortgage Company
Chris Duskin
Friday, November 6, 2026
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When should you think about refinancing? |
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One of the questions I hear most often is whether now is the right time to refinance. Let me break down what actually matters when you're thinking about it.
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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 it make sense to refinance your mortgage?
Refinancing isn't always the right move, but it's worth understanding when it could help you. The main reason people refinance is to lower their monthly payment or shorten their loan term, which happens when rates drop or when you've built equity. But refinancing does come with closing costs and a new timeline, so you want to make sure the math works in your favor before you move forward. It's also a chance to switch from an adjustable rate to a fixed one, or to tap into home equity if you need it. Every situation is different, which is why it's worth a conversation. I'm happy to walk through your options and help you figure out if refinancing makes sense for you right now. Reach out if you'd like to 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
Chris Duskin
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