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Mortgage Market Update
My Mortgage Company
925 E Windsor Dr
Friday, November 6, 2026
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Should you refinance right now? |
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A lot of homeowners wonder if now is the right time to refinance. The answer depends on more than just today's rates.
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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 isn't whether rates are lower—it's whether the long-term benefit outweighs the upfront cost. If you're planning to stay in your home for several more years, refinancing might lower your payment or shorten your loan term. But if you're thinking about moving sooner, the costs may never pay back. The math is different for everyone, which is why it's worth talking through your specific situation before you decide. If you're curious whether refinancing makes sense for you, I'd be happy to run the numbers.
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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
925 E Windsor Dr
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