|
Mortgage Market Update
My Mortgage Company
Golden Summit Mortgage Group
Friday, November 6, 2026
|
Does refinancing make sense right now? |
|
Mortgage rates move, life changes, and sometimes homeowners wonder if it's time to refinance. But not every refinance is worth it.
|
|
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 Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift or your financial picture changes. The real question is whether the benefit you'd gain—a lower payment, shorter loan term, or switching from adjustable to fixed—is worth the time and cost of the process. Some borrowers break even quickly; others take years. It depends on your specific loan, how long you plan to stay in your home, and what rates look like right now compared to what you have. There's no universal answer, which is why it's worth a conversation. I can walk through the numbers with you and show you whether refinancing actually pencils out for your situation. Let's talk through whether a refi makes sense for you.
|
|
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
Golden Summit Mortgage Group
|
|
|
|
You are receiving this from Golden Summit Mortgage Group. Unsubscribe
|