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Mortgage Market Update
Tarrell Stansberry
Tarrell Stansberry
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Hi there. This week I'm thinking about one of the most common questions I hear: should I refinance my mortgage?
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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 Readiness
Should you refinance? Here's how to know.
Refinancing isn't always the right move, even when rates shift. The real question is whether the numbers work for your situation—and how long you plan to stay in your home. A refinance can lower your payment, shorten your loan term, or change your loan type to better fit where you are now. But there are costs involved, and it takes time to recoup them. That's why it pays to run the math before you decide. If you're curious whether refinancing makes sense for you, I'm happy to walk through the numbers without pressure. Let's figure out if it's worth your while. Reach out if you'd like me to review whether a refinance could work for your goals.
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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 Tarrell Stansberry team any time and we'll walk you through your options. |
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