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Mortgage Market Update
My Mortgage Company
Arizona Filmmakers
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Not every borrower should refinance, and timing matters. Here's what to think about before you decide.
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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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Refi Timing
When it makes sense to refinance your loan
Refinancing isn't one-size-fits-all, and it's not always the right move—even when rates look attractive. The real question is whether the monthly savings or other benefits you'd gain outweigh the closing costs and time involved. Some borrowers refinance to lower their rate or shorten their loan term. Others do it to tap into home equity or switch loan types. The math is different for everyone depending on how long you plan to stay in your home and what you're trying to accomplish. If you've been wondering whether a refi makes sense for your situation, I'd like to walk through the numbers with you. Let's talk through what you're hoping to achieve and whether it's the right timing. Reach out this week and we can review whether refinancing could work for 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 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
Arizona Filmmakers
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