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Friday, November 6, 2026 |
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Mortgage Market Update
Should you refinance? Here's how to tell.
Rates move, and when they do, refinancing comes to mind. But a lower rate doesn't always mean a refinance makes financial sense.
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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 refinancing makes sense—and when it doesn't
Refinancing isn't always the right move, even when rates shift. The main reason people refinance is to lower their monthly payment or shorten their loan term, but there are real costs involved—closing costs, appraisals, and time. That's why it pays to do the math first. If you're planning to stay in your home long enough to recoup those costs through savings, refinancing can be smart. But if you might move or sell in the next few years, it may not be worth it. The best way to know? A simple comparison of what you'd save versus what you'd pay upfront. I'm happy to walk you through that conversation whenever you're curious. Let me know if you'd like to explore whether refinancing pencils out for your 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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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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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 Ashli Huron team any time and we'll walk you through your options.
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2102916167
NMLS# 1577691
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