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Mortgage Market Update
My Mortgage Company
Camille Olson
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Refinancing gets talked about a lot, but not always honestly. Let me break down when it's actually worth doing.
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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 Reality
When refinancing makes sense (and when it doesn't)
Refinancing sounds simple: you trade your old loan for a new one, usually to lower your rate or change your loan term. But the real question is whether the savings justify the cost of closing. If you've built equity, have good credit, and plan to stay in your home long enough to recoup what you spend upfront, refinancing can absolutely work in your favor. The math matters, though. A small rate drop might not be worth refinancing if you're only staying a few more years. That's where a clear-eyed conversation helps. I can walk you through the numbers specific to your situation—what you'd save each month, what it costs to refinance, and how long it takes to break even. If you're curious whether refinancing makes sense for you, let's talk through the details.
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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
Camille Olson
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