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Mortgage Market Update
Scott Campbell
Scott Campbell
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Sometimes the smartest move is knowing when not to move. This week I want to walk you through how to spot a refinance that actually works for you.
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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 Strategy
When refinancing costs more than it saves
Not every refinance makes sense, even when rates look attractive. The real question isn't whether rates have moved—it's whether the long-term benefit outweighs what you'll pay upfront to make the switch. Some borrowers save thousands over time; others break even or come out behind, depending on how long they stay in the home and which loan program they choose. I've seen people rush into a refinance without running the full picture, only to realize later they would have been better off waiting or staying put. That's why I always recommend we sit down and do the math together—not on a napkin, but with real numbers tied to your actual timeline and goals. The only way to know if refinancing is right for you is to look at your specific situation. Let's talk through whether a refinance makes sense for your home and your future.
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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 Scott Campbell team any time and we'll walk you through your options. |
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