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Mortgage Market Update
My Mortgage Company
Haymaker Home Loans
Friday, November 6, 2026
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Should you refinance? A straightforward look |
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I often hear from homeowners who aren't sure whether refinancing is worth considering. Let me break down when it typically makes the most 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 it makes sense to refinance your mortgage
Refinancing isn't just about chasing lower rates—it can serve several goals depending on where you are in your loan. Some people refinance to shorten their payoff timeline, others to tap into equity for a major expense, and some simply to adjust their monthly payment when their financial situation changes. The right move depends on your specific circumstances: how long you plan to stay in your home, what you owe versus what it's worth, and what you're trying to accomplish. If you've been wondering whether refinancing might work for you, I'm happy to walk through the numbers and show you what's realistic. There's no obligation—just clarity on your options. Reach out if you'd like to explore whether refinancing makes sense 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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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
Haymaker Home Loans
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