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Mortgage Market Update
TJ Gray
TJ Gray
Friday, November 6, 2026
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Does refinancing actually work for you? |
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Refinancing gets a lot of attention, but it's not the right move for everyone. This week I'm breaking down how to know if it's worth considering.
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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 actually makes sense
Refinancing isn't a one-size-fits-all move. Some borrowers benefit from it; others don't. The real question isn't whether rates have moved—it's whether the long-term benefit to your situation outweighs the costs of refinancing. That calculation depends on how long you plan to stay in your home, what your current loan looks like, and what's available to you now. A good refinance should genuinely improve your financial picture, not just chase a headline rate. I can walk you through whether it pencils out for you and what the actual numbers look like. Let's talk through your specific situation and see if refinancing makes sense right now.
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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 TJ Gray team any time and we'll walk you through your options. |
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