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Mortgage Market Update
My Mortgage Company
Colin Boyse
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Hi there. I've had a few conversations this week about refinancing, and I realized not everyone knows how to think about the decision.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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 Reality
When does refinancing actually make sense?
A lot of people assume refinancing is always worth exploring—but it's not always the right move. The real question isn't whether rates have moved; it's whether the cost of refinancing is worth what you'd save over time. Some borrowers benefit immediately. Others are better off staying put. The answer depends on your timeline, how long you plan to stay in your home, and what your current loan terms actually are. I've seen people rush into a refi only to move eighteen months later, or delay one that would've freed up monthly cash flow they genuinely needed. If you've been curious about whether it makes sense for you—or if you heard from a friend that rates had dropped and wondered if that applies to your situation—let's talk it through. No obligation, just clarity. Reach out anytime you want to know if refinancing pencils out for your specific 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
Colin Boyse
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