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Mortgage Market Update
My Mortgage Company
Michael Hulse
Friday, November 6, 2026
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Does refinancing make sense right now? |
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One of the most common questions I hear is whether someone should refinance their home loan. Let me walk you through how to think about it.
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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 always the right move, even when rates shift. The real question isn't whether rates have changed—it's whether the benefit you'd gain is worth the time and cost of the process. Some people refinance to lower their monthly payment or shorten their loan term. Others use it to tap into home equity or switch from an adjustable rate to a fixed one. But if you're only looking at a tiny monthly savings, the math might not work in your favor. I recommend we sit down and run the actual numbers on your specific situation: what you'd save, what it would cost, and how long it would take to break even. That's the only way to know if it's worth doing right now. If you've been wondering whether a refinance makes sense 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 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
Michael Hulse
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