Mortgage Market Update

My Mortgage Company

Grizzly Mortgage

Friday, November 6, 2026

Should you refinance? Here's how to decide

Every month I hear from borrowers wondering if now is the time to refinance. Here's what you should consider before making that call.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Refinancing Strategy

When it makes sense to refinance your mortgage

Refinancing isn't always the right move—but sometimes it's worth a serious look. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one. Each situation is different, and what works for your neighbor might not work for you.

The key is understanding your own goals and timeline. If you're planning to stay in your home for several more years, refinancing might make financial sense. If you're thinking about selling soon, the costs probably don't pencil out. I'm happy to walk through your specific situation and help you figure out whether it's worth exploring.

Let's talk about whether refinancing could work for you—reach out anytime.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Grizzly Mortgage

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