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Mortgage Market Update
My Mortgage Company
Edge Home Finance
Friday, November 6, 2026
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Does refinancing make sense right now? |
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I talk with homeowners every week who wonder if refinancing is worth it. The answer isn't one-size-fits-all, but there are some clear guidelines that can help you decide.
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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 Reality
When does refinancing actually make sense?
A lot of homeowners ask me if they should refinance, and my honest answer is: it depends on your situation. Refinancing can help if rates have moved in your favor, if you want to shorten your loan term, or if you're looking to tap into home equity. But it also involves closing costs and a new application process, so it's worth doing the math first. The best time to refinance isn't always when rates drop—it's when the long-term benefit outweighs what you'll spend upfront. I'd rather help you think through whether a refi makes sense for your specific goals than push you into something that doesn't. If you're wondering whether refinancing could work for you, let's sit down and walk through 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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Your Mortgage Advisor
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My Mortgage Company
Edge Home Finance
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