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Mortgage Market Update
My Mortgage Company
Fetchy McFetch
Friday, November 6, 2026
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Is refinancing worth it right now? |
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Refinancing is one of those tools that works beautifully in the right situation—and can cost you money in the wrong one. Let me break down when it makes sense for you.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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)
A lot of people think refinancing is only worth it if rates drop significantly. That's one reason to do it, but there are others. You might refinance to shorten your loan term, lock in a fixed rate if you're on an adjustable one, tap into your home equity, or switch to a different loan program that works better for your situation now. The catch is that refinancing comes with costs, so the math has to work in your favor. That's why a conversation with me matters—I can look at your specific loan and timeline to figure out whether refinancing actually pencils out for you, or if staying put makes more sense. Let's talk through your options and see if a refinance could work for your goals.
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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
Fetchy McFetch
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