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Mortgage Market Update
My Mortgage Company
Justin Greenberg
Friday, November 6, 2026
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Does it make sense to refinance right now? |
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Rates move, and when they do, homeowners naturally wonder if they should refinance. But the answer isn't always yes—and that's worth understanding before you apply.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The question isn't just whether rates have changed—it's whether the change is large enough to justify the cost and time involved in a new loan. Some borrowers benefit from refinancing to lower their payment or shorten their loan term. Others are better off staying put, especially if they're close to paying off their current mortgage or recently locked in a good rate. The math depends on your specific situation: how long you plan to stay, what you'd pay in fees, and how much your payment would actually drop. I'm happy to run the numbers with you and show what refinancing would actually look like for your home and goals. If you're curious whether refinancing could work for you, let's talk through your options.
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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
Justin Greenberg
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