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Mortgage Market Update
My Mortgage Company
Adam Lewis
Friday, November 6, 2026
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Does refinancing make sense for your home? |
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One of the questions I hear most often is whether it's time to refinance. The answer is always: it depends.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question isn't whether rates look good—it's whether refinancing improves your actual financial picture. That means weighing the costs of a new loan against how long you'll stay in your home and what you'll save on payments or interest over time. Some people benefit right away. Others find the math doesn't work in their favor. It depends entirely on your situation: how much you owe, how long you've owned the home, and your plans ahead. There's no one-size-fits-all answer, which is why it's worth having a real conversation about the numbers that matter to you. If you're curious whether refinancing could work for you, I'm happy to walk 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
Adam Lewis
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