Mortgage Market Update

My Mortgage Company

Armando Cornejo

Friday, November 6, 2026

Does refinancing make sense for you?

Every homeowner reaches a point where they wonder if refinancing is the right move. Let's talk about how to tell.

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 Readiness

When it makes sense to refinance your mortgage

Refinancing isn't a one-size-fits-all move, and it's not just about chasing lower rates. Sometimes it makes sense to refinance into a different loan term, consolidate debt, or tap into equity for a major expense. Other times, the costs don't justify the benefit. The key is understanding your own situation: how long you plan to stay in your home, what your current loan costs, and what you're trying to accomplish. If you've been wondering whether refinancing is worth exploring, that's exactly what I'm here to help you figure out. There's no obligation—just clarity.

If you'd like to talk through whether refinancing could work for your situation, 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

Armando Cornejo

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