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Mortgage Market Update
My Mortgage Company
Atiyah
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Hi there — this week I want to talk about refinancing, because I hear from a lot of homeowners who wonder if now is the right time to do it.
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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
Should you refinance? Here's what to consider.
Refinancing isn't right for everyone, but it's worth understanding when it might make sense for you. The main reasons people refinance are to lower their monthly payment, shorten their loan term, switch from an adjustable to a fixed rate, or tap into home equity. The trade-off is that you'll restart your loan timeline and cover closing costs, so the math only works if you'll stay in the home long enough to recoup those expenses. If you've built equity, improved your credit, or market conditions have shifted, a conversation with me can help you figure out whether refinancing actually moves the needle for your situation. Let's run the numbers together — reach out anytime to explore your options.
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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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