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Mortgage Market Update
Tammy Saul
Tammy Saul
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Hi there. Every homeowner's situation is different, and so is the answer to whether refinancing is 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 Basics
When refinancing actually makes sense
I talk to homeowners all the time who wonder if refinancing is worth the hassle. The honest answer: it depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into equity for a major expense. But it's not automatic—closing costs and your timeline matter. The longer you plan to stay in your home, the more likely a refinance pencils out. If you're curious whether it makes sense for you, I'm happy to walk through the numbers. There's no obligation; it's just a conversation to see if it's a smart move. Let's talk through whether refinancing fits your goals right now.
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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 Tammy Saul team any time and we'll walk you through your options. |
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