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Mortgage Market Update
My Mortgage Company
Guy Campbell
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Hi there. I want to share what I'm seeing this week when it comes to refinancing decisions—and why the answer isn't always yes, even when rates move.
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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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Refinance Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain outweighs what it costs to refinance. Sometimes a rate drop of a tenth or two won't justify the process. Other times, a modest change in rate or a shorter loan term can meaningfully improve your long-term position. The best candidates are usually borrowers who plan to stay in their home, have built some equity, and can absorb the upfront costs. If you're wondering whether your situation qualifies, I'd be happy to walk through the numbers with you—no obligation, just clarity. Give me a call or send a message and we can talk through whether refinancing works for you 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 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
Guy Campbell
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