|
Mortgage Market Update
My Mortgage Company
Jose Ramos
Friday, November 6, 2026
|
When refinancing actually pays off |
|
There's a lot of noise about mortgage rates, and I want to help you cut through it. This week I'm looking at a question I hear often: should I refinance?
|
|
National Mortgage Rates · November 5, 2026
|
Conventional 30-Year
7.18%
|
|
| |
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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 Strategy
When does refinancing actually make sense?
Refinancing isn't always the right move—even when rates shift. The math depends on how long you plan to stay in your home, what your current loan terms are, and how the new numbers compare. Sometimes a refi saves real money over time. Sometimes you're better off letting your existing loan ride. I talk to people all the time who think they should refinance just because rates moved, but the breakeven point matters more than the headline rate. If you're wondering whether it's worth exploring for your situation, I can walk you through the actual numbers—no pressure, just honest math. If you're curious whether refinancing could work for you, I'd be happy to take a look at your loan and run the numbers.
|
|
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
Jose Ramos
|
|
|
|
You are receiving this from Jose Ramos. Unsubscribe
|