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Mortgage Market Update
My Mortgage Company
Matthew Rizzolo
Friday, November 6, 2026
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Should you refinance? It's not just about rates |
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Hi there—this week I want to tackle a question I hear a lot, and the answer is usually more nuanced than people expect.
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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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Refinance Timing
When refinancing actually makes sense
A lot of people ask me, 'Should I refinance right now?' The honest answer is that it depends on your situation—not just on rates alone. Refinancing makes sense when the benefit outweighs the cost: if your rate would drop enough to lower your payment meaningfully, or if you're switching loan types (say, from adjustable to fixed), or if you're tapping equity for something important. But refinancing also means closing costs and a new loan timeline. I help borrowers run the real math on whether a refinance pencils out for their goals, not just chase rates that move every week. If you've been wondering whether now is your moment, let's talk through it together. Reach out if you'd like me to run a quick refinance analysis 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
Matthew Rizzolo
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