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Mortgage Market Update
My Mortgage Company
Jeff Buchweitz
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Hi, I want to touch on a question I hear often: is now a good time to refinance? The answer isn't one-size-fits-all, and I'd like to walk you through how to think about 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 Strategy
When does refinancing actually make sense?
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation, not just the rates. Refinancing makes sense when the benefit of your new terms outweighs the cost of closing. That might mean a lower rate that saves you money over time, or switching loan types to build equity faster or free up cash flow. But it's not automatic—sometimes staying put is the smarter move. The right time to refinance is different for everyone, and it's worth running the numbers on your specific loan and timeline before you decide. I'm here to help you figure out whether it makes sense for you. Let's talk through whether refinancing could work for your situation.
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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
Jeff Buchweitz
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