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Mortgage Market Update
My Mortgage Company
Brendan McKiernan
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Refinancing gets talked about a lot, but it's not always the right move. Here's how to think about it clearly.
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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 about refinancing only when rates drop, but that's just one piece of the puzzle. Refinancing can make sense for other reasons too—shortening your loan term, switching from adjustable to fixed, or tapping into equity for a major expense. The catch is that refinancing comes with costs, so you need to weigh whether the benefit outweighs what you'll pay upfront. That's where the math matters. If you've been in your home for a while or your situation has changed since you first borrowed, it's worth a real conversation about whether refinancing fits your goals. I can walk you through the numbers and help you decide if it makes sense for you right now. Let's talk about 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
Brendan McKiernan
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