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Mortgage Market Update
Steven Dell’Aria
Steven Dell’Aria
Friday, November 6, 2026
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Does refinancing make sense for you? |
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I've been fielding a lot of refinancing questions lately. Let's talk about when it actually pencils out.
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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 Basics
When does a rate drop actually make sense to refinance?
The question I hear most often is: 'Should I refinance?' The honest answer depends on a few things beyond just whether rates have moved. Your break-even point matters—that's how long it takes for your monthly savings to cover the costs of refinancing. If you plan to stay in your home long enough to cross that line, it often makes sense. But if you're thinking of selling or moving sooner, the math might work against you. Other factors include your current loan term, how much equity you have, and your credit profile since then. The good news is these aren't mysteries. A quick conversation can show you whether refinancing pencils out for your specific situation. If you've wondered whether refinancing makes sense right now, I'm happy to walk through the numbers with you.
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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 Steven Dell’Aria team any time and we'll walk you through your options. |
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