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Mortgage Market Update
My Mortgage Company
Philip Ganz
Friday, November 6, 2026
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Should you refinance? Here's how to tell |
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Some weeks I hear from borrowers wondering whether now's the time to refinance. The honest answer isn't always yes, and I'd rather help you see the real picture than push you into something that doesn't work for you.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain outweighs the time and cost it takes to close a new loan. Some folks break even quickly; others find they'd need to stay in their home much longer to come out ahead. It depends on your current loan, how long you plan to stay put, and what your new terms would actually look like. That's why a real conversation—not a sales pitch—matters here. I can walk you through the numbers specific to your situation and help you see if it pencils out for you. Let's run the math together and see what makes sense for your home and timeline.
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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
Philip Ganz
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