Mortgage Market Update

My Mortgage Company

Humboldt Mortgage Company

Friday, November 6, 2026

Should you refinance your mortgage?

Homeownership is full of choices. This week I want to cover one that comes up often: whether refinancing is actually worth it.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Refinance Basics

When refinancing makes sense (and when it doesn't)

Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefit you'd gain over time outweighs the cost to refinance. That calculation depends on your current loan, how long you plan to stay in your home, and what you're trying to accomplish—lower payment, shorter timeline, or cash out.

I talk to homeowners every week who've done the math and found it makes sense for them. Others realize refinancing isn't worth it right now. Both answers are perfectly fine. What matters is understanding your own situation before you decide. I'm happy to walk through the numbers with you—no pressure, just clarity.

Let's talk through whether a refi makes sense for your home and timeline.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Humboldt Mortgage Company

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