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Mortgage Market Update
My Mortgage Company
Duane Vizinau
Friday, November 6, 2026
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Is refinancing worth it right now? |
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Hi there. This week I want to tackle a question I hear often: when is the right time to refinance?
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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 refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The real question is whether the long-term benefit outweighs what you'll pay upfront to switch loans. Some people refinance to lower their monthly payment, others to shorten their loan term, and some to tap into equity they've built. The math is different for everyone depending on how long you plan to stay in your home, your current loan terms, and your financial goals. If you've been wondering whether now is the time for you, I'd love to walk through the numbers and see what makes sense for your situation. Let's talk through whether refinancing could work for you.
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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
Duane Vizinau
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