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Mortgage Market Update
My Mortgage Company
Stacey Elshehaby
Friday, November 6, 2026
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Does refinancing make sense for you right now? |
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One of the most common questions I hear is whether now is the right time to refinance. The honest answer depends on your personal circumstances, not just the rate environment.
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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 isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs what you'll pay upfront. Your break-even point matters—that's the month when your monthly savings add up to cover your closing costs. If you plan to stay in your home past that point, refinancing could work in your favor. If you're thinking of moving or selling sooner, the math might not pencil out. The best candidates are usually borrowers with solid equity, good credit, and a realistic timeline for staying put. I'm happy to run the numbers with you and show you exactly where the break-even falls. Reach out anytime and we can review whether a refinance 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
Stacey Elshehaby
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