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Mortgage Market Update
Kris Rich
Kristen Rich
Friday, November 6, 2026
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Does refinancing make sense for you right now? |
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Hi there. I've had several conversations this week about refinancing, and I realized there's a lot of confusion out there about when it's actually worth doing.
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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 homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing isn't always the right move, even when rates shift. The key is looking at how long you plan to stay in your home, what your current loan terms are, and whether the new terms actually improve your financial position over time. Sometimes keeping your existing loan is the smarter choice. I can walk through the numbers with you—no pressure, just clarity. If you've been wondering whether a refinance could work in your favor, let's talk through it together. Reach out if you'd like to explore whether refinancing might make sense 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 Kris Rich team any time and we'll walk you through your options. |
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