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Mortgage Market Update
My Mortgage Company
Cinda Oehlke - For Deletion
Friday, November 6, 2026
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Does it make sense to refinance right now? |
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When rates move, refinancing conversations pick up—but not everyone should refinance. Let me break down what actually matters when you're weighing this decision.
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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 Strategy
When does refinancing actually make sense?
Refinancing gets a lot of attention, but it's not the right move for everyone or every situation. The real question isn't whether rates have moved—it's whether the change is big enough to justify the cost and timeline of starting over. Some people benefit from a lower rate or shorter loan term. Others might refinance to tap into home equity for a major expense, or to switch from an adjustable to a fixed rate for peace of mind. The math is different for each person depending on how long you plan to stay in your home, your current loan details, and your financial goals. If you've been wondering whether it's worth exploring, I'm happy to run the numbers with you and show you what refinancing could actually mean for your situation. Let's talk through whether refinancing makes sense for your home and goals.
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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
Cinda Oehlke - For Deletion
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