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Mortgage Market Update
My Mortgage Company
Lexi Blackwell
Friday, November 6, 2026
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Does refinancing make sense for you right now? |
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Hi there—I wanted to touch base about something I'm asked about frequently. As rates and your life circumstances change, the question of whether to refinance comes up naturally.
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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
When does it make sense to refinance?
Refinancing isn't one-size-fits-all—it depends on your situation, how long you plan to stay in your home, and where rates stand today compared to your current loan. Some borrowers refinance to lower their payment, others to shorten their loan term or tap into equity. The key is understanding your own goals first, then seeing whether the math supports making a move. There's no magic threshold or perfect timing that works for everyone. That's why a straightforward conversation about your specific circumstances—your rate, loan balance, timeline, and financial priorities—is worth having. I'm here to walk through the numbers with you and help you decide if refinancing fits your plan. Let's talk through 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
Lexi Blackwell
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