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Mortgage Market Update
Marc Hayes
Marc Hayes
Friday, November 6, 2026
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When does refinancing actually pay off? |
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Hi there,
One of the most common questions I get is whether now is a good time to refinance. The answer depends entirely on your situation, so let me share what to consider.
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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 does refinancing actually make sense?
Refinancing isn't right for everyone, and the decision depends on your personal situation, not just the numbers. Some people refinance to lower their monthly payment or shorten their loan term. Others tap their home equity to fund a big expense or consolidate debt. The catch is that refinancing comes with closing costs and a new loan timeline, so you want to make sure the benefit outweighs what you'll pay upfront. If you're thinking about it, the first step is understanding what you'd actually gain—and that's where a real conversation helps. I can walk through the numbers with you and show you whether it pencils out for your goals. If you're curious whether refinancing could work for you, let's talk through it.
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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 Marc Hayes team any time and we'll walk you through your options. |
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